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Trusts

Whether you have life insurance in a life insurance trust, a family trust, a charitable remainder trust, or any other type of trust vehicle, a life settlement could help accomplish the goals of the trust and fund beneficiary needs. Some reasons a trust may want to consider a Life Settlement include:

  • The goals of the grantor to the trust, or the beneficiaries of the trust, have changed and the insurance policy is no longer necessary
  • The policy was purchased several years ago and is not performing as expected, and the trustee needs to replace the insurance
  • The premium payments are no longer affordable, or the trustee is no longer interested in paying premiums to keep the policy in force
  • The trust owns a policy which may lapse sooner than expected, and needs to be sold and replaced with new insurance
  • The estate size has decreased or tax laws have changed, reducing the amount of insurance required to pay projected estate taxes
  • The estate size has grown and the initial policy no longer meets the requirements of the original estate planning needs
  • The grantor has outlived the beneficiaries to the trust
  • Other trust assets need to be maintained, and the sale of a policy may help the estate retain more valuable assets

Cash received in from a settlement may be used to:

  • Disburse the cash to accomplish other goals of the trust
  • Invest the cash to fund other goals of the trust
  • Purchase a new paid-up life insurance policy
  • Pay for long-term care or assisted living for the trust grantor or beneficiary
  • Fulfill charitable giving wishes
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Purchase Parameters - Does My Policy Qualify?
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