New York Public Awareness

Preventing Life Settlement Fraud in the State of New York

Why Settle?

Why would I decide to settle my life insurance policy

Life insurance policies are settled for a host of reasons. No matter what your particular reason is, never let a policy lapse and never surrender it before you have explored the secondary market opportunities. At Genesis, we will help you not only navigate the complex settlement market, we will ensure the experience and truly rewarding results.

Using your life insurance policy as a financial asset is still a relatively new idea. It is subject to much misunderstanding, urban legend and a variety of other biases. A typical question is, "What can I use the payment for?" The answer is: Anything you want. Because our executive management has spent the major portion of their professional lives insuring peace of mind on both the corporate and personal level, we are well equipped to guide you through the common reasons to look into life settlements.

Here are some of those common reasons a life settlement may be of interest to you:

• The premium payments have become too costly
• You may no longer require the policy
• You may be considering the surrender of the policy or the policy may be about to lapse
• There may be a change in your estate planning needs
• You may have a need for liquidity
• You want to give a gift to a family member
• You may need to retire other debt
• You may want to purchase a new less expensive policy
• You may want to generate funds for charitable giving

Common Business Reasons:

• The "Key Man" insurance no longer needed
• The Buy/Sell insurance taken out for the business partners is no longer needed
• Fulfill current liquidity needs
• Eliminate company debt

Charitable Applications:

• Reallocate dormant unproductive funds to better performing investment vehicles
• Find new funds for capital needs
• Charitable institutions may no longer have funds available to carry premium payments