Ashar recently appraised a $2M Convertible Term policy for a restaurant owner in his early 70s whose businesses were severely affected by the COVID-19 lockdowns. Instead of starting bankruptcy proceedings, his financial professional offered to explore a life settlement, resulting in saving his businesses until the restrictions were lifted.
Surrendering policy and interested in receiving more money
Adult children unable to pay premiums to maintain the policy.
Policy was underfunded and sitting in an ILIT
Eliminated future premium payments and used the funds for medical bills.
Business was sold, and the policy was no longer needed
Business owner was able to receive additional value above and beyond the sale of the company.
