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Life Insurance Settlement Case Studies
Here are some case histories of the life insurance settlements of our clients.
| Situation: | 75+ year old female with unaffordable premiums and overpaying for coverage |
|---|---|
| Old Policy | |
| Policy Type | Universal Life |
| Policy Value | $3,350,000 |
| Annual Premium | $50,000 |
| Mickelson Solution | Life Settlement + new policy |
| Life Settlement cash proceeds | $556,000 (Deposited into new policy) |
| New Policy | |
| New Policy Type | Universal Life |
| Policy Value | $3,350,000 |
| Annual Premium | $36,000 |
| Results |
|
| Situation: | 70+ year old male overpaying for Life Insurance |
|---|---|
| Old Policy | |
| Policy Type | Universal Life |
| Policy Value | $2,000,000 |
| Annual Premium | $27,000 |
| Mickelson Solution | Life Settlement + new policy |
| Life Settlement Cash Proceeds | $230,000 (Deposited into new policy) |
| New Policy | |
| Policy Type | Universal Life |
| Policy Value | $2,000,000 |
| Annual Premium | $8,000 |
| Results |
|
| Situation: | Married Couple 70+ years old and unable to afford high premiums |
|---|---|
| Old Policy | |
| Policy Type | Survivor Universal Life |
| Policy Value | $5,200,000 |
| Annual Premium | $75,000 (not guaranteed) |
| Cash Value | $585,000 (deposited into new policy) |
| Mickelson Solution | Tax free 1035 exchange |
| New Policy | |
| Policy Type | Survivor Universal Life |
| Policy Value | $5,200,000 |
| Annual Premium | $20,000 (guaranteed 18 years) |
| Results |
|
| Situation: | Married Couple 70+ years old and unable to afford high rising premiums |
|---|---|
| Old Policy | |
| Policy Type | Survivor Universal Life |
| Policy Value | $2,000,000 |
| Annual Premium | $82,000 |
| Mickelson Solution | Life Settlement + new policy |
| Life Settlement Sale Proceeds | $229,000 (Deposited into new policy) |
| New Policy | |
| Policy Type | Survivor Universal Life |
| Policy Value | $600,000 |
| Annual Premium | $12,000 |
| Results |
|
| Situation: | 75+ year old male overpaying for coverage |
|---|---|
| Old Policy | |
| Policy Type | Universal Life |
| Policy Value | $12,500,000 |
| Annual Premium | $684,000 |
| Mickelson Solution | Life Settlement + new policy |
| Life Settlement Sale Proceeds | $907,000 (Retained by Client) |
| New Policy | |
| Policy Type | Universal Life |
| Policy Value | $10,000,000 |
| Annual Premium | $456,000 |
| Result |
|
| Situation: | 75+ year old male paying for unwanted coverage |
|---|---|
| Old Policy | |
| Policy Type | Universal Life |
| Policy Value | $4,950,000 |
| Annual Premium | $250,000 |
| Mickelson Solution | Life Settlement Policy Sale |
| Life Settlement cash proceeds | $1,050,000 |
| Results |
|
| Situation: | 80+ year old male overpaying for coverage |
|---|---|
| Old Policy | |
| Policy Type | Universal Life |
| Policy Value | $1,150,000 |
| Annual Premium | $95,000 |
| Mickelson Solution | Life Settlement + new policy |
| Life Settlement Sale Proceeds | $535,000 (Deposited into new policy) |
| New Policy | |
| Policy Type | Universal Life |
| Policy Value | 1,150,000 |
| Annual Premium | $66,000 |
| Results |
|
| Situation: | 75+ year old female overpaying for coverage |
|---|---|
| Old Policy | |
| Policy Type | Universal Life |
| Policy Value | $686,000 |
| Annual Premium | $21,000 |
| Cash Value | $128,000 (deposited into new policy) |
| Mickelson Solution | Tax Free 1035 exchange |
| New Policy | |
| Policy Type | Universal Life |
| Policy Value | $686,000 |
| Annual Premium | $11,000 |
| Results |
|
| Situation: | 65+ year old male with excess unwanted Life insurance |
|---|---|
| Policy Type | Universal Life |
| Policy Value | $5,000,000 |
| Annual Premium | $160,000 |
| Mickelson Solution | Life Settlement Policy Sale |
| Life Settlement Cash Proceeds | $131,000 |
| Results |
|
| Situation: | 70+ year old male overpaying for coverage |
|---|---|
| Old Policy | |
| Policy Type | Universal Life |
| Policy Value | $1,900,000 |
| Annual Premium | $150,000 |
| Mickelson Solution | Life Settlement + new policy |
| Life Settlement Cash Proceeds | $600,000 |
| New Policy | |
| Policy Type | Universal Life |
| Policy Value | $1,900,000 |
| Annual Premium | $89,000 |
| Results |
|
| Situation: | Married Couple 75+ years old unable to afford premiums |
|---|---|
| Old Policy | |
| Policy Type | Universal Life |
| Policy Value | $350,000 |
| Annual Premium | $24,000 per year |
| Mickelson Solution | Life Settlement and new policy purchase |
| Life Settlement amount | $60,000 |
| New Policy | |
| Policy Type | Universal Life |
| Policy Value | $350,000 |
| Premium | $46,000 (lump sum) + $9,600 Per year |
| Result |
|
| Situation: | Male 75+ years old overpaying for insurance |
|---|---|
| Old Policy | |
| Policy Type | Universal Life |
| Policy Value | $2,300,000 |
| Annual Premium | $32,000 |
| Mickelson Solution | Tax free 1031 exchange |
| Cash Surrender Value | $271,000 |
| New Policy | |
| Policy Type | Universal Life |
| Policy Value | $2,500,000 |
| Premium | $271,000 (lump sum) + $23,000 per year |
| Results |
|
Doing What's Right
Our job is not to sell life insurance, it is to help our clients achieve their goals. We tailor every solution to provide the maximum benefit for our clients and their families. We will analyze and present all options and help clients make the best choice for them.
Links:
Find out how savvy seniors are using life settlements.
Use Life Insurance to avoid taxes.