At Patriot Settlement Resources we take pride in helping people obtain a large lump sum of cash now for their future payments from a Structured Settlement, Annuity or Lottery award.
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Has your life insurance outlived its original purpose? Are the premiums becoming a burden? Are you thinking about letting it go, or surrendering it for its cash value?
Life insurance is one of the most widely held investments in this country. But sometimes, the reasons for keeping a policy change - the death of a beneficiary, retirement of a key employee, divorce, changing financial circumstances, or simply a desire to travel or enjoy life more fully.
If you qualify, you may be able to turn that old policy into cash - far more cash than the surrender value of the policy. Cash to enjoy the rest of your life, to take care of medical expenses, replace expensive coverage with a more cost effective alternative or buy long-term health insurance. Cash, for whatever you want or need.
Life Insurance is considered to be personal property and may be acquired or liquidated just like real estate, stocks or bonds. If you presently own a life insurance policy, you have the ability to transfer all your interest in that policy to a third party for a cash consideration.
If your policy is not meeting projected values or premium requirements leave the possibility of a policy lapse, why not exchange that asset before you lose it! A Life Settlement transaction provides policy owners with immediate cash alternative for a policy that will soon have no value through surrender or lapse.
What types of insurance qualifies? Whole life, Universal Life, Variable Life, Survivorship/Joint First To Die, and Adjustable Life are just some examples of the types of policies that may be acquired. The face value minimum of the policy must be $100,000 with a company rating of B+ or higher. The policy insured should be 70 years or older, although we will also consider any life policy where the insured is living with a serious illness.
For more information or to discuss your policy with one of our experienced professionals, contact us toll free at 1.866.506.CASH (2274) or e-mail us at info@patriotsettlement.com.
What is a Structured Settlement ?
Structured Settlements are an innovative method of compensating injury victims. Endorsed by the US Congress since 1982, a structured settlement is a completely voluntary agreement between the injured victim and the defendant. Under a structured settlement, an injured victim doesn't receive compensation for his or her injuries in one lump sum. They will receive a stream of tax-free payments tailored to meet future medical expenses and basic living needs. A structured settlement may be agreed to privately (for example, in a pre-trial settlement) or it may be required by a court order, which often happens in judgments involving minors and incapacitated adults. (Source: National Structured Settlement Trade Association Website, 6/1/2002)
Why do a Structured Settlement ?
A structured settlement’s most important advantage is security. The structured settlement provides long term payments that are guaranteed by a life insurance company.
Another advantage that a structured settlement provides is its tax-free position. All payments made via a structured settlement are nontaxable by federal tax guidelines (IRS Section 104(a)(2). 100% of every payment is tax exempt.
The structured settlement allows the injured party to tailor payments over his or her life. There is no need to meet periodically with an investment or tax advisor. Payments are decided during the initial settlement and then are directed to the injured victim. It gives peace of mind, security, and confidence over the long term.