American Insurance Network Blog

Life Insurance Settlment Situation for 75 year Male

samtayz — Mon, 15 Jun 2009 20:38:58 +0000

I was referred to a potential client who was questioning if he should do a life settlement on his two life insurance policies. He is a retired male who had a decent amount of money and had a potential tax liability when he passes away.

Over the past couple of years he has lost 50% of his investments in the stock market and has a 2nd home that he bought as an investment in Arizona that he has been trying to sell and hasn’t been able to sell it. The cost of this 2nd home is about $1500 a month.

He has two Universal Life Insurance policies. One for $500K and the other for $430K. The premiums to keep these policies going are about 12K a year. He cannot afford to really keep them, his kids don’t have money to pay for them. They are the ones who will inherit the money when he dies. He called the insurance companies and if he stops paying the premiums for these two policies, they will last till age 82. He already has not paid this years premiums.

We are going to see what the best offer that we can get for him, if he decides to sell them. His financial planner is recommending that he sells the policies. He can invest the money and help this client with cash flow and that is what is needed at this time. There is no longer an estate tax issue and the kids will still have money and property to inherit.

My potential client met with his children to go over everything with them to make sure that they are ok with his decision if he decides to go through with it.

If you have any questions, please feel free to contact me anytime: Scott Zimmerman at American Insurance Network, Inc.

Scott Zimmerman

American Insurance Network, Inc.

Scott@AmericanInsurance.com

www.AmericanInsurance.com

Life Insurance Settlements for Seniors… What is the best age?

samtayz — Thu, 11 Jun 2009 02:38:46 +0000

Clients, prospects and advisors call me often asking when is the best age to sell your life insurance policy? My answer is, it depends. What is your present health situation. Lately, the best offers are for men ages 73+ and for females age 75+. The worse your health situation, the better the offer will be. Offers lately have been very low due to the economy and banks, hedge funds, institutions being short on putting money out to investments. Also, since the offers are lower, the institutions know that people will be willing to accept lower amounts do the lack of money available and people have lost so much in the market and their home values that they seem to be more desperate for money and will take less.

If you have any questions: Please contact Scott Zimmerman at scott@americanInsurance.com

Scott Zimmerman

American Insurance Network, Inc.

Scott@AmericanInsurance.com

WWW. AmericanInsurance.com

Life Insurance for Pilots… What are the rates?

samtayz — Tue, 09 Jun 2009 02:37:09 +0000

I have a client that has his pilots license and was looking for life insurance coverage. He is a successful business owner, has a wife and two small children. He called another broker looking for $3,000,000 of life insurance coverage. The other agent asked all of the questions: What type of license do you have, how often do you fly, how long have you had your license etc. He advised my client that he woudl have a highly rated policy due to his flying.

When we spoke he told me his concern. He is very healthy, just has a pilots license. Fly’s 4 to 8 hours a week. I was able to get him a preferred rating with a top A+ rated carrier and was able to save my clients $1000′s of dollars compared to the other agents proposal.

If you any questions. Please feel free to contact me anytime.

Scott Zimmerman

AmericanInsurance Network, Inc.

Scott@AmericanInsurance.com

Life Insurance Settlement Book

samtayz — Thu, 14 May 2009 22:03:07 +0000

I’ve been a life settlement specialist for about Four years now. I am fortunate that I get a ton of referrals from clients and advisors to work with them and their clients. I’ve decided to write a book on Life Insurance Settlements. Advisors that I have been speaking with about it, love the idea.

I would love your feed back. If you are interested in receiving a free book on Life Insurance Settlements, please let me know. Book should be completed in the next 30-45 days and I would be happy to send it out to you for your feedback.

Scott Zimmerman

American Insurance Network, Inc.

Scott@AmericanInsurance.com

What Is The Right Age To Look At Doing A Life Settlement???

samtayz — Tue, 20 Jan 2009 04:16:49 +0000

I have people ask me often what is the right age to start looking at selling their Life Insurance Policies.

Currently the age that works best is Age 70+. You can possibly sell your life insurance policy at younger ages, if you were to have health problems. The older you are, the better you have a chance of selling your policy for higher amounts. If your health is great, your offers when selling your policy will be lower than if you had health issues.

Today’s settlement climent is different than it was six months ago. Offers are lower, and firms are very picky on what they are purchasing. With the credit crisis going on in our country, firms are having a harder time getting funds to buy policies, so the offers have been lower, than in the past.

If you have any questions, please feel free to contact me anytime: Scott Zimmerman at www.AmericanInsurance.com

Scott Zimmerman

American Insurane Network, Inc.

www.AmericanInsurance.com

Scott@AmericanInsurance.com

Life Insurance Settlement Gone Bad????

samtayz — Sat, 17 Jan 2009 04:40:40 +0000

I have a client that we have been in the process of shopping out a buyer for his Life Insurance policy. He is 67 years old and has a few health problems. Sleep Apnea, prior prostate cancer (is fully recovered), and is over weight. Our funding company thought that my client would have a decent offer for his policy. My client also wants to sell this policy to help fund a new business venture.

With the present economy, the credit crisis, the change of running Life Expectancy Reports, offers have been much lower lately.

So far, my client has had no offers at all. We were both expecting offers and it’s been over 5 months, and no offers?

If you have any questions or Life Insurance Settlement Planning, please feel free to contact: Scott Zimmerman at www.AmericanInsurance.com

Scott Zimmerman

American Insurance Network, Inc.

www.AmericanInsurance.com

Scott@AmericanInsurance.com

Life Insurance Settlement Book

samtayz — Thu, 15 Jan 2009 04:31:35 +0000

I have been writing a book on Life Insurance Settlements. This book will be finished and published in the next 45-60 days. This is a comprehensive book that explains everything about Life Insurance Settlement Planning. It is an easy read that professionals will learn about Life Settlements and understand the dynamics and at the same time every day people will be able to read this book and understand about Settlement Planning and decide if this concept will be write for them or their loved ones.

If you have any questions or have interest in this book, please feel free to contact: Scott Zimmerman at www. AmericanInsurance.com

Scott Zimmerman

American Insurance Network, Inc.

www.AmericanInsurance.com

Scott@AmericanInsurance.com

Health Insurance and Cobra

samtayz — Tue, 13 Jan 2009 04:36:33 +0000

I have a client that called. She wants to cancel her Cobra Health Insurance before I can get her a new plan.

I told her to keep her present plan until we are able to get her new coverage.

I explained to her that the following could happen.

*The Insurance company could decline her.

*The Insurance company could raise her rates and it could cost a lot more than the cobra.

*The Insurance Company could take a while to make a decision and that she should not be without insurance. You never know if something could happen.

She agreed to keep her present coverage.

If you have any questions, please feel free to contact, Scott Zimmerman at www.AmericanInsurance.com

Scott Zimmerman

American Insurance Network, Inc.

www.AmericanInsurance.com

Scott@AmericanInsurance.com

Life Insurance Settlement Appointment

samtayz — Tue, 13 Jan 2009 04:30:39 +0000

Today I had a meeting with one of the largest Life Insurance Settlement brokerage firms. The meeting went very well. With the present economy and the credit crisis, banks, hedge funds, mutual funds and institutions have been not buying life insurance policies the way they were in the past. These investors have been low balling the offers. I think they realize that people have lost money in the stock market, their homes, 401K plans, etc, and that some people are desperate. The offers have been about 30-40% of what the offers were a year ago.

My funding firm feels that in the next 1-2 months, more money will be avaiable and offers will increase, but not what they were the years prior.

If you have any questions, please feel free to contact: Scott Zimmerman at www.AmericanInsurance.com

Scott Zimmerman

American Insurance Network, Inc.

www.AmericanInsurance.com

Scott@AmericanInsurance.com

67 Year Old Wants to Sell His Term Life Insurance.

samtayz — Sat, 10 Jan 2009 04:21:43 +0000

I have a client that has two years left on his term life insurance policy before the premiums shoot up. He would like to buy a new policy and sell his term insurance. His present policy has a face amount of $1.6 million dollars.

I have a firm that will buy his term insurance policy. He is thrilled to be able to buy a new policy and at the same time get a nice chunk of change for a policy that he is willing to get rid of.

If you have any questions, please contact, Scott Zimmerman at www.AmericanInsurance.com

Scott Zimmerman

American Insurance Network, Inc.

www.AmericanInsurance.com

Scott@AmericanInsurance.com