Advanced Settlements Inc. says it will consider buying some term life insurance policies.
"We have encountered a unique fund that can purchase term policies meeting specific criteria," says Scott Kirby, co-president of Advanced Settlements, Orlando, Fla.
The term life policies considered must insure men ages 65 to 79.
Some other policy criteria:
- Face value of $500,000 to $5 million.
– A current level-premium period, ideally with 4 years remaining and renewable to at least age 90 thereafter.
– Standard or preferred ratings, with carriers rated A or better.
– Beyond the contestability period.
Policies need not be convertible, and no medical or life expectancy certificates would be required to complete a settlement agreement, Advanced Settlements says
The offer is not available in Alaska, Louisiana, North Dakota, West Virginia or Puerto Rico, and some restrictions apply to New York state residents, Advanced Settlements says.
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