Company-owned key man policy on a retiring business owner. Due to the costly conversion premium, the company planned to lapse the policy. The retiring business owner negotiated for the policy ownership to be transferred to him. Afterward, his advisor suggested he have his life insurance policy asset appraised for secondary market value.
Could no longer afford premiums
Received a lump sum and reallocated premiums for today’s needs.
On the verge of outliving his planned coverage
A life settlement created value and alleviated future premium payments.
Liquidity constraints reduced donations
Cash created donation for the charity she loves.
