finding a Big hidden Asset

Managers - finding a Big hidden Asset

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Hidden liabilities come at us every day. The car needs a big repair, a hefty healing bill after an emergency room visit for a sick child or your mortgage payment jumps with climbing interest rates. But what about finding some incommunicable assets that can be turned into some cold hard cash that can be invested, spent or given to family or a charitable organization?

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Managers

"Find me some incommunicable assets" - you may be thinking.

One big one may be gathering dust in a box on the top shelf of your closet - your life assurance policy.

Think about it. You paid premiums all those years and you own it. It is an asset even if the policy has no cash value. The selling of life policies in the secondary shop is called life settlements and it is growing fast. Sadly, many seniors let their unneeded or too costly policies lapse each year without even hearing about this great option.

This is no crackpot scheme. Here is what two leading publications say about the matter.

The Economist, May 17, 2003
"....elderly Americans with policies they do not need or cannot afford to keep have had dinky selection but to let the policies lapse or sell them back to their insurers. On average they can get three times as much from life hamlet firms as they can from their primary insurers."

The Wall street Journal, September 21, 2004

"Owners let nearly 90% of all term policies lapse...What policyholders sometimes don't realize is that a policy is an asset that has shop value... The value of a life settlements transaction is commonly at least three times the basic cash value of the policy."

I first learned about the selection of selling a life policy when my father in Milwaukee sold his policy about ten years ago. His seven children were all grown up and his policy premiums were escalating each year. He sold his policy for more than he imagined and used the proceeds to spend in mutual funds and for a down payment on a condo in South Carolina to leave the cold Wisconsin winters. Many others use the proceeds from selling their policies to purchase a great lower cost life policy, spend in a long-term care policy, build up their nest egg or just give the money to their children or a favorite charity.

Who can sell their policies, what is the process and how is the value of a policy determined?

I spoke with Centennial Funding Llc Managing Partner Ed Kaffel about these questions. Agreeing to Ed, with some exceptions, only seniors over the age of 65 will likely be able to sell their policies which must be owned for at least two years. In order to decide the value of their policy, the insured needs to perfect an application including a copy of the policy and authorize the issue of their healing records. This file is then reviewed by say twenty corporate buyers of life policies that then can make cash offers based on the owners age, condition and the economics of the life policy. Even term policies may qualify.

There is no need for the insured to make an up front commitment to sell the policy and no requirement for a condition exam. Once an offer is received for a policy, the owner can accept or reject it. You can ask Ed about your situation by calling him at 719.785.4866.

Just what can be the value of this incommunicable asset? Every situation is different but here are two examples.

Male: Age 67

Health Issues

Face Amount: 0,000

Cash Surrender Value: ,474

Offer: 6,000

Female: Age 78

Face Amount: ,000,000

Cash Surrender Value: ,000

Offer: 0,000

You can see that this is something worth finding into if you no longer need your policy and can put the proceeds to good use. Charitable organizations are now able to change donated life policies to cash to fund projects now rather than later.

A life hamlet is truly not for everyone but everyone should be aware of the selection of turning a life policy into cash right now.

I hope you receive new knowledge about Managers. Where you'll be able to put to use within your daily life. And above all, your reaction is passed about Managers.