Life Settlement: 79-Year Old Male and 81-Year Old Female

79-Year Old Male and 81-Year Old Female

The Background

A university had a portfolio of donated life insurance policies. Two of the policies in their portfolio were a $1,000,000 life insurance policy from Prudential insuring a 79 year old male. The annual premiums were $60,000 with a cash surrender value of only $8,036. The second a $500,000 life insurance policy from West Coast Life insuring an 81 year old female. The annual premiums were $51,000 with no cash surrender value.

The Problem or Challenge

The university needed to maintain their budget and continue to pay premiums on their entire life insurance portfolio.

The Source of the Lead

Networking with an alumni who sat on the board of the directors of the university.

The Solution

The $1,000,000 policy was sold for $175,000 and the $500,000 policy was sold for $100,000. This allowed the university to pay premiums on their portfolio of policies.

No comments yet.

Leave a Reply

* Copy This Password *

* Type Or Paste Password Here *