Worksheet

Is a Life Settlement Worth Exploring for Me?

A one-page worksheet for cancer patients and their families

1. Quick Eligibility Check

Check the boxes that apply. If you check four or more, a no-cost policy review is likely worth your time.

• I (or the insured person) own a life insurance policy with a face amount of at least $100,000.
• The policy has been in force for more than two years.
• The policy is universal life, whole life, convertible term, or a similar transferable type.
• The insured has been diagnosed with cancer or another serious illness.
• I no longer need the death benefit for its original purpose, can no longer afford the premium, or need cash now more than I need the future benefit.
• I have not been pressured by anyone (sales call, mailer, agent) to make a fast decision.

2. What I Have

Have these numbers ready before any meaningful conversation about your options.

Insurance carrier

Policy type

Face amount (death benefit) $

Annual premium $

Cash surrender value $

Year policy was issued

Insured's age

Insured's state of residence

3. What I Need to Find Out Before Deciding

• Call the insurance company and ask: "Do I have an accelerated death benefit or terminal illness rider, and what are its terms?"
• Ask my treating physician whether they can provide a written certification of terminal or chronic illness if needed.
• Talk with a tax professional about Section 101(g) and the after-tax outcome of a sale.
• Talk with my spouse, partner, or the family member most affected by this decision.

Notes and Questions to Ask