Life Settlement Articles & News
Selling Your Life Insurance Policy? A Consumer's Guide to a Life Settlement.
Deciding to keep a life insurance policy, surrender it, let it lapse, or sell it as a life settlement, requires careful thought. The purpose of this Insurance Studies Institute document is to help you become more informed and to understand your choices.
http://www.insurancestudies.org/Consumers/ConsumersGuideInsuranceStudiesInstitute.pdf
Why Life Settlement? The Benefits of Choosing a Life Settlement
Results of a recent survey showed that 60-70% of seniors do own life insurance, but only 50% have some knowledge of life settlements. The Purpose of this Insurance Studies Institute document is to inform seniors about life settlements, the steps in a life settlement and what a consumer can expect.
http://www.insurancestudies.org/articles/WhyLifeSettlements.pdf
Have Questions about a Life Settlement? Top Ten Questions about a Life Settlement.
The New York State Insurance Department has provided seniors with a guide that includes frequently asked questions about a life settlement, the processes and procedures of a life settlement, and the implications of undertaking a life settlement.
http://www.ins.state.ny.us/que_top10/que_life_set.htm
CharlesEdwards Wants Seniors to Understand and Avoid STOLI
A life settlement is a legal transaction whereby the owner of a life insurance policy sells his or her life insurance policy in return for an amount that exceeds the cash surrender value. In contrast, a STOLI (Stranger Originated Life Insurance ) is an illegal transaction where a third party, convinces a person to take out a life insurance policy with an agreement that the third party will assume ownership of the policy in return for some sort of compensation. The prominent operators in the life settlement industry adamantly oppose STOLI and have sought laws and regulations to stomp out STOLI activities.
This Insurance Studies Institute article explains the difference between a Life Settlement and STOLI and provides information on how to avoid STOLI.
http://www.insurancestudies.org/series/ISI_LifeInsuranceSettlementSeries_IV.pdf
News About CharlesEdwards
01-20-2010 4:20 am
Selling their life insurance policy has always been an immediate cash source for helping Alzheimer's patients pay the cost of their memory care. Adding to their life insurance settlement proceeds, in the future, these same patients may also qualify for a grant from the Zakeya R. Deratany Foundation.
The Board of Directors of Charles M. Edwards Company, Inc., parent company of national life settlement broker-CharlesEdwards, announced plans to proceed with the creation of the Zakeya R. Deratany Foundation. The proposed tax-exempt foundation plans to provide grants to Alzheimer's patients in need of special in-home care or a memory care facility but lack financial means to fully pay for it.
Newport Beach, CA (October 4,2009) Charles M. Edwards Company, Inc., parent company of national life settlement broker-CharlesEdwards, announced today that its Board of Directors approved management's plan to create the Zakeya R. Deratany Foundation. The mission of the Zakeya R. Deratany Foundation will be to offer financial assistance to Alzheimer's patients who are in need of specialized in-home care or a memory care facility but do not have the financial means to fully pay for that care. The proposed tax-exempt Foundation plans to fund its program through individual and corporate donors. A dedicated source of funds will also be generated through the Company's two divisions, CharlesEdwards and Life Settlement Administrators, where a percentage of commissions earned through the sale of all clients' life insurance policies will be donated.
Zakeya R. Deratany passed away December 20, 2008 of complications brought about by the Alzheimer's disease she had been diagnosed with about 10 years prior. During her 84 years, "Rosemary" rarely complained of her severe rheumatoid arthritis and other pain, instead, choosing to focus her smile, warmth and laughter on others who were in need of help or a kind word.
"I am very pleased with the Board's decision allowing us to move forward with the creation of the Zakeya R. Deratany Foundation," said Steven E. Tartaglini, Chairman and CEO of Charles M. Edwards Company, Inc. "I was blessed to know Rosemary for over 34 years and I can't think of another person more selfless than she. With her life as a model of helping strangers, struggling with pain and Alzheimer's, and the need for a quality memory care facility in her final months, it makes her the perfect namesake for the Foundation."
Trained in-home professionals and qualified memory care facilities can greatly improve the quality of care and life for Alzheimer's patients. Unfortunately, these services are often very expensive and beyond the reach of many in need of them. The Zakeya R. Deratany Foundation hopes to partially subsidize that cost for those with a proven medical need but modest financial means.
Alzheimer's patients and their caregivers can often obtain a large source of cash through the sale of a life insurance policy, usually that of the Alzheimer's patient themselves. Commonly referred to as a life settlement, life insurance policies are sold to large financial institutions where the privacy, safety and respect of the insured is safeguarded. Settlements typically generate lump-sum cash settlements ranging between 10% and 50% of the policy's face value. Those seeking more information about life settlements can contact the CharlesEdwards corporate office at 800.492.5186 or visit www.charlesmedwards.com.
About Alzheimer's Disease
According to the Alzheimer's Association, as many as 5.3 million people in the United States are living with Alzheimer's. "With the country facing unprecedented economic challenges and a rapidly aging baby boomer population, now is the time to address the burgeoning Alzheimer crisis that triples health care costs for Americans age 65 and over," said Harry Johns, Alzheimer's Association CEO. For more information on Alzheimer's, see the 2009 Alzheimer's Disease Facts and Figures.
Charles M. Edwards Company, Inc. has been in the life settlement industry since late 2005. Headquartered in Newport Beach, California, it currently operates two divisions: CharlesEdwards, the trusted name in life settlements, a national life settlement broker representing policy owners in the preparation, submission, and negotiation of all offers received in connection with the sale of their life insurance policies between $200,000 and $50 million; and Life Settlement Administrators (LSA), a turnkey platform that enables insurance, financial, and legal professionals to quickly and inexpensively establish themselves as independent life settlement brokers.
CharlesEdwards and the trusted name in life settlements are registered trademarks of Charles M. Edwards Company, Inc.
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