Life Settlements

In the past, seniors who needed new insurance coverage or no longer needed their existing life policies had few options: either surrender their policy to the issuing life insurance company for often low cash surrender values, or allow their life policy to lapse. Seniors today have the ability to use life settlements as means of accessing funds that may have been lost if a policy had been surrendered.

Life settlements are financial transactions designed to provide seniors who own underperformed life policies or no longer affordable or soon to lapse life policies with cash payments that are higher than the cash surrender values of the original life policies.


Usually life settlement companies buy your life insurance policy, take over the premium payments, and give you a lump sum of cash that is higher than the cash surrender value of the policy offered by the issuing life insurance company. Life settlements will help seniors who wish to stop making premium payments on a policy they cannot afford or do not need, while providing them with extra funds to achieve other financial and life goals.

Life settlement requirements vary in the industry; however the following may provide eligibility guidelines for seniors who are potential candidates for life settlements:

  1. Age 65 or older.
  2. Life expectancy is typically between 2 and 12 years.
  3. Life insurance face amount greater than $100,000.
  4. Life policy has been in force for longer than 2 years, or passed the contestability period.

For more information about Life settlements, please consult with a professional Midwest Senior Select, Inc. representative at:

262-241-3662 or 800-251-3662

Or, please complete the following form, and submit your information. You will be contacted by one of our authorized licensed Life insurance representatives to answer any questions concerning your options with life settlements.

The above information is intended to serve as a basis for further discussion with your professional advisors.

  • Quote Information

  • Applicant Information

  • Brief Health Survey

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