Many business have life insurance policies that are costly and no longer needed. When would a business consider a Life Settlement?

• A policy is owned by a company on the life of an executive who is no longer employed by the corporation.
• Insurance was purchased to fund a buy-sell agreement and the company has been sold leaving expensive and unneeded policies.
• A business has declared bankruptcy and needs to produce cash to pay debts.
• Retirement of a family member in a closely held company - funds can be produced to fund retirement.
• Policy was taken out to help secure a loan - the loan has been repaid and the policy is unnecessary.