Vistalife is the first Canadian facilitator of secondary market transactions commonly referred to as life settlements. Simply put a life settlement is the full or partial surrender of an in-force life insurance policy to someone other than the insurer for an amount greater than its cash surrender value but less than its face amount.
Third party CSV (cash surrender value) transactions differ from insurer transactions in that they assign a value to the underlying insurance policy face amount or death benefit rather than just the accumulated cash value of a policy. Many insurance products held by Canadian consumers today do not accumulate any cash value during their lifetime. They have no value in the eyes of the insurer and upon lapse or surrender all premiums paid are lost. Canadian seniors lapse or surrender thousands of these policies every year and millions of dollars in value are lost.
Contrary to insurers who value policies based solely on the surrender value the secondary market values policies on the basis of the policy face amount, age and health of the insured(s) as well as premium payments required to maintain the policy.
VistaLife has partnered with experienced industry professionals to ensure that Canadian consumers receive fair value for their policies. Policies with no contractual cash surrender value may still have a cash surrender value on the secondary market. We believe every consumer particularly seniors should explore the secondary market before surrendering or lapsing a life insurance policy. We offer a variety of secondary market transactions including full or partial surrenders as well as policy loans to qualified consumers.
6500 Transcanada Hwy. West
Suite 400
Pointe Claire, PQ
H9R OA5
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