Page 5 - The Lifeline Program White Paper

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For example, if a policy was purchased on a
husband’s life to financially protect his wife
and children, it may become unwanted or
unneeded once the children are grown or if the
marital status changes.
Issues regarding the
estate tax have also arisen recently, because
many baby boomers purchased policies
specifically for estate planning purposes. Life
insurance was very typically sold as a means to
fund anticipated estate tax burdens on families.
However, recent changes in the estate tax law
have made some life insurance purchased for
that purpose unnecessary. Prior to life insurance
settlements, unneeded or unwanted insurance
was allowed to lapse and most of the value of
the policies was lost. Life settlement companies
are currently looking for individuals with policies
that match these and other circumstances.
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