What types of life insurance policies does Life Settlement Financial buy?
Life Settlement Financial buys life insurance policies that insure the lives of one or more individuals. These include: 1. Universal life insurance, 2. Whole life insurance, 3. Term insurance that can be converted to permanent whole life insurance 4. BOLI (bank owned life insurance) used to provide collateral for monies borrowed at a bank or other financial institution after the loan is paid off, 5. “Key Man” insurance used to insure the life of a business owner or key employee, 6. COLI (company owned life insurance) used to protect an executive’s value in a non-qualified deferred compensation (NQDC) program after funds have been paid and the insurance often allowed to lapse, 7. Second-to-die life insurance often used for estate planning liquidity when the insurance is no longer needed for estate tax purposes.
Life Settlement Financial buys life insurance policies that insure the lives of one or more individuals. These include: 1. Universal life insurance, 2. Whole life insurance, 3. Term insurance that can be converted to permanent whole life insurance 4. BOLI (bank owned life insurance) used to insure bank officers and provide collateral for monies borrowed at a bank or other financial institution after the loan is paid off, 5. “Key Man” insurance used to insure the life of a business owner or key employee, 6. COLI (company owned life insurance) used to protect an executive’s value in a non-qualified deferred compensation (NQDC) program after funds have been paid and the insurance often allowed to lapse, 7. Second-to-die life insurance often used for estate planning liquidity when the insurance is no longer needed for estate tax purposes.
