Policies considered for purchase by Life Settlement Solutions must meet certain eligibility requirements. The following are typical criteria that are formed in conjunction with the investor or lender:
A U.S. domiciled life insurance company whose financial strength at the time the life insurance policy is purchased is rated no less than "A–" by Standard & Poor's Ratings Group; at least "AA" by Moody's Investors Service, Inc., at least "AA–" by Duff Phelps Credit Rating Company at least "A–" by A.M. Best; or any other U.S. domiciled life insurance company if the face amount of the insurance is less than or equal to the liability limit of any applicable state life and health insurance guarantee fund.
Fully renewable subject only to the payment of premiums;
The insured's life expectancy is between 25 and 144 months based on one or more medical evaluations from an approved evaluator;
Term policies must have a minimum term life insurance coverage equal to the greater of (a) two times the life expectancy, or (b) 10 years; and
The face value of the policy does not exceed $20 million.
