In 1911 A.D., the United States Supreme Court in court case Grigsby v. Russsell declared that your life
insurance is your personal property,
establishing that it was a policy
owner’s right to transfer an insurance
policy and that you can assign
ownership at your discretion.

The term Senior Life Settlement (SLS)
is a technical term for selling your life
insurance policy to an investor.
Life Insurance is an asset that belongs
to the policy holder which can be sold
just like their house, car or other
property in order to fund a better
retirement or just to have some
needed extra cash.

A Life Settlement is a good option for
policyholders, as it provides an
alternative to allowing their Life
Insurance to lasp when they are no
longer financially able to maintain their
policy.

A Life Settlement transaction can take
approximately 3-8 business weeks.
In an SLS transaction an individual
policy holder is generally between 65
and 79 years of age (Senior), and sells
their life insurance policy to a
third-party investor, usually this is
done through a broker, for an amount
less than the policy’s face value, yet
greater than the net cash surrender
value of the policy.

The investor then becomes
responsible for paying the future
premiums, and thereby upon the death
of the previous policy holder (Senior),
the investor then receives the policy’s
death benefits.

Known as Viatical Settlements, from
the Latin word viaticum or “provisions
for a journey.”

When qualifying for a Viatical
Settlement, the insured on the policy
must be terminally ill usually with a life
expectancy of under two years.

The difference between a Senior Life
Settlement (SLS) and a Viatical
Settlement is a Viatical Settlement
generally involves someone who is
terminally ill selling their life
insurance policy in exchange for an
immediate cash payout with this
payout being nearly always above the
cash surrender value yet below the
death benefit amount, while a Senior
Life Settlement usually involves
someone who is not terminally ill and
has a longer life expectancy and they
desire to sell their Life Insurance
policy.

For more detailed information and a
Free Non-Obligation Quote
Call SECA Funding Company
Toll Free +1 (800) 413-5167 Extension 9