The provinces of Quebec, New Brunswick, Nova Scotia and Saskatchewan permit the life settlement transaction. Every year in Canada, people over the age of 70 lapse or surrender more than $5 billion of insurance for far less than what their policies are worth. Crown Life Canada offers Canadian seniors fair value for their unwanted or unneeded life insurance policy.
The following questions can help you determine whether the life settlement option is suitable for your situation:
When you sell your policy, the purchaser becomes its owner and beneficiary and the policy remains in force. The new owner maintains the premium payments until your death and collects the death benefit. In the same way the insurance carrier did when you bought the policy, the purchaser will review your medical record to assess your current health status to estimate your life expectancy to determine a value for a policy. All things being equal, the longer your life expectancy, the lower the value of your policy.
"Due to demographic trends and a shift to more secure wealth preservation strategies
the Life Settlement market is poised to grow exponentially."
"Life Settlements offer the potential for a higher return with a lower risk
than traditional investment products."