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Life Settlement: 84-Year Old Male

An 84 year old male had three universal life policies. One policy through Protective Life and the other two with West Coast Life. The policies had face amounts of $190,000, $200,000 and $330,000. The total annual premiums on the policies were approximately $36,000. The insured was using the cash value to pay the premium. His cash surrender value on all 3 policies totaled only $21,600.