User:LifeSettlementGuru/Altri Life Settlements

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Altri Life Settlements is a brokerage firm founded in 2010 that was established to represent clients with their Life Settlement transactions. Incorporated in the state of North Carolina, Altri Life Settlements has chosen their headquarters to be centered out of the city of Charlotte. They act on behalf of policy owners to negotiate and ensure a fair value amount is received for the sale of their insurance policy. This process incorporates representing insurance policy owners during the preparation, submission, and negotiation of all offers received in connection with the sale of their life insurance policies.

Life Settlements

In 1911, Grisby v. Russell ruled by the Supreme Court that the life insurance policies of individuals were considered to be assigned for value. A life settlement is the sale of a life insurance policy by the individual who owns the policy to an investor. Typically the investor is of a third party which is valuable in itself, because it alleviates the ability of insurance companies to hold a monopoly over the industry. The insurance policy owner sells the policy for a lump sum payout below what the agreed amount of the policy would be worth at the time of death. The third party investor purchases the policy from the owner for an agreed upon amount that is worth more than the cash surrender value, but also less than the full death gratuity.

Viatical Settlements

There is a common misunderstanding^{[citation needed]} that Viatical settlements and Life settlements are identical in nature. Viaticals surfaced in the early 1990s as a solution for the terminally ill that lacked the funding for expensive medical treatment and hospice care. Life settlements focus on individuals who are not ill and are free to sell their policies as they please, just like any common asset. Some individuals who consider a Life settlement have undergone a change in their financial requirements and desire a substantial lump sum to supplement their income. Situations that are commonly seen are hardship (loss of job), foreclosure, or have experienced a tragic accident. Although these are not the only reasons, in fact anyone who owns a policy may exercise their right to sell it at any time.

The Life Settlements industry is becomming more and more common for seniors. According to a study done in 2002 from the Wharton School of Business:

"We estimate that life settlements, alone, generate surplus benefits in excess of $240 million annually for life insurance policyholders who have exercised their option to sell their policies at a competitive rate." - Wharton Study, pg 6

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