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Life Insurance Contract Terms Eliminates Options

Whenever we purchase goods or services, they generally come with standard terms and conditions, which will include responsibilities of the seller and the buyer.  This will also typically include warranty information and a description of the circumstances in which you can return and get reimbursed for the goods and services you purchased. Similarly, contracts for […]

Life Settlement: 81-Year Old Male

An 81 year old male had a total of $15,000,000 in life in-surance from New York Life. The $10,000,000 policy had an annual premium payment of $583,000. The $5,000,000 face amount had an annual premium payment of $424,000. The combined annual premiums were $1,007,000. The combined cash surrender value on the 2 policies was only $347,000.