UL for Sibling Long-Term Care

82-Year-Old Female
Universal Life
Year Issued: 
2 007
Face Amount: 
Surrender Value: 
Lifeline Settement: 

The insured was the CFO of a well-known national retail chain until her retirement in 2000. A single woman with no children, and living in the Pacific Northwest, she was supporting an older, disabled brother who had increasingly serious and expensive medical issues. At age 75 she had taken out a universal life policy with a face value amount of $8 million in the event of her passing, with her brother’s long-term care as her main objective, along with several charities as her beneficiaries.

Earlier this year, her brother passed away and she no longer had the need to retain her universal life coverage and pay the nearly $340,000 in annual premiums. Being at that point over-insured and still in good health, with a desire to travel, she decided to make the most of her retirement years and move to a full-service beach condominium in Hawaii.

Although she had an excellent pension, many of her investments had lost substantial value during the recession. With the intention of living in comfort and peace of mind, and with the ability to travel on a moment’s notice, she concluded that a life settlement would be a wise option to consider.

She had read about The Lifeline Program® and happened to have seen our CEO, Scott Page, on a national television financial program. Being a retired CFO herself, she researched several companies and determined that we were, for many reasons, the life settlement company with whom she felt most comfortable, not the least in which was the strength of our balance sheet. We found $700,000 in her policy, and the settlement was transacted with maximum efficiency and professionalism. As always, we began paying her premiums in full, and she is now happily living her retirement dream on the beach in Oahu.

**While the storyline contained in this case study is a dramatization so as to protect the identity and privacy of the policy holder and insured, the policy face amount, age of insured, and policy sale amount realized are actual results of settlements offered by The Lifeline Program®.