Life Settlement Opportunities by County 2018

A few weeks back, we published a piece on the $50,000 opportunity seniors in the United States were missing out on. The post revealed that 250,000 Americans over age 65 lapse their life insurance policies every year, forfeiting an average of $51,300 each. We wanted to use this information and conduct a study at the county level, sampling the 100 counties in America with the highest percentage of residents over 65.

We chose the oldest counties to determine where the most money was being forfeited per capita. Broadly speaking the older a policyholder is, the more likely they are to be eligible to sell their life insurance party on the secondary market. The study found that across the country, millions of retirees were missing out on cash that could significantly increase their financial security. Through a life settlement, a policyholder can sell their life insurance to a third party for cash that can be used for retirement savings, help pay for long-term care, or any other needs.

Unfortunately, more than 80% of retirees are unaware of the option to sell a life insurance policy.

We hope the information provided by this study will further public awareness and knowledge of life settlements and help people across America achieve their retirement dreams.

See if your county is on the list!

The results start with the highest proportion of residents over 65:

County State Population Population over 65 Money Forfeited Annually by Lapsing on Policies*
Sumter County Florida 93,420 40,530 $11,454,100
La Paz County Arizona 20,489 6,683 $1,888,673
Charlotte County Florida 159,978 54,599 $15,430,152
Alcona County Michigan 10,942 3,441 $972,456
Citrus County Florida 141,236 45,041 $12,728,978
Llano County Texas 19,301 6,002 $1,696,217
Northumberland County Virginia 12,330 3,713 $1,049,326
Highlands County Florida 98,786 31,822 $8,993,173
Hickory County Missouri 9,627 2,846 $804,304
Catron County New Mexico 3,725 1,041 $294,195
Sierra County New Mexico 11,988 3,674 $1,038,304
McMullen County Texas 707 187 $52,847
Wheeler County Oregon 1,441 420 $118,695
Towns County Georgia 10,471 3,061 $865,065
Sheridan County North Dakota 1,321 396 $111,913
Lancaster County Virginia 11,391 3,554 $1,004,391
Sarasota County Florida 379,448 118,227 $33,411,978
Roscommon County Michigan 24,449 6,849 $1,935,586
Esmeralda County Nevada 783 202 $57,086
Baxter County Arkansas 41,513 11,659 $3,294,934
Aitkin County Minnesota 16,202 4,413 $1,247,152
Benton County Missouri 19,056 4,936 $1,394,956
Curry County Oregon 22,364 6,261 $1,769,413
Real County Texas 3,309 853 $241,065
McIntosh County North Dakota 2,809 954 $269,608
Union County Georgia 21,356 5,675 $1,603,804
Sabine County Texas 10,834 2,901 $819,847
Cumberland County Tennessee 56,053 14,553 $4,112,804
Ontonagon County Michigan 6,780 1,787 $505,021
Jefferson County Washington 29,872 7,842 $2,216,217
Wahkiakum County Washington 3,978 1,015 $286,847
Keweenaw County Michigan 2,156 518 $146,391
Montmorency County Michigan 9,765 2,637 $745,239
McCormick County South Carolina 10,233 1,449 $409,500
Stone County Missouri 32,202 7,870 $2,224,130
Motley County Texas 1,210 328 $92,695
Jewell County Kansas 3,077 863 $243,891
Iosco County Michigan 25,887 6,755 $1,909,021
Collier County Florida 321,520 84,951 $24,007,891
Mathews County Virginia 8,978 2,290 $647,173
Nye County Nevada 43,946 10,301 $2,911,152
Coke County Texas 3,320 862 $243,608
Granite County Montana 3,079 753 $212,804
Mineral County Colorado 712 164 $46,347
Vilas County Wisconsin 21,430 5,556 $1,570,173
Harding County New Mexico 695 203 $57,369
Marion County Florida 331,298 85,318 $24,111,608
Aransas County Texas 23,158 5,602 $1,583,173
McPherson County South Dakota 2,459 733 $207,152
Marion County Arkansas 16,653 3,964 $1,120,260
Custer County Colorado 4,255 954 $269,608
Middlesex County Virginia 10,959 2,760 $780,000
Lake County Michigan 11,539 2,736 $773,217
Wood County Texas 41,964 10,148 $2,867,913
Wells County North Dakota 4,207 1,221 $345,065
Pacific County Washington 20,920 5,183 $1,464,760
Transylvania County North Carolina 33,090 8,539 $2,413,195
Martin County Florida 146,318 39,972 $11,296,434
Flagler County Florida 95,696 23,405 $6,614,456
Highland County Virginia 2,321 579 $163,630
Menard County Texas 2,242 602 $170,130
Ozark County Missouri 9,723 2,279 $644,065
Garden County Nebraska 2,057 560 $158,260
Hernando County Florida 172,778 44,523 $12,582,586
Logan County North Dakota 1,990 557 $157,413
Jeff Davis County Texas 2,342 543 $153,456
Mohave County Arizona 200,186 46,658 $13,185,956
Indian River County Florida 138,028 37,504 $10,598,956
Presque Isle County Michigan 13,376 3,498 $988,565
Adams County Wisconsin 20,875 4,899 $1,384,500
Oscoda County Michigan 8,640 2,034 $574,826
Keya Paha County Nebraska 824 211 $59,630
Mason County Texas 4,012 979 $276,673
Huerfano County Colorado 6,711 1,689 $477,326
Graham County Kansas 2,597 666 $188,217
Costilla County Colorado 3,524 807 $228,065
Burnett County Wisconsin 15,457 3,569 $1,008,630
Kinney County Texas 3,598 874 $247,000
Gillespie County Texas 24,837 6,586 $1,861,260
Yavapai County Arizona 211,033 50,767 $14,347,195
Garfield County Nebraska 2,049 555 $156,847
Gila County Arizona 53,597 12,450 $3,518,478
Throckmorton County Texas 1,641 403 $113,891
Grant County North Dakota 2,394 645 $182,282
Pickett County Tennessee 5,077 1,140 $322,173
Sharp County Arkansas 17,264 4,134 $1,168,304
Baylor County Texas 3,726 935 $264,239
San Juan County Washington 15,769 3,657 $1,033,500
Lake County Florida 297,052 71,825 $20,298,369
Macon County North Carolina 33,922 8,069 $2,280,369
Mineral County Montana 4,223 926 $261,695
Cleburne County Arkansas 25,970 6,118 $1,729,000
Cherokee County North Carolina 27,444 6,284 $1,775,913
Cottle County Texas 1,505 358 $101,173
Lincoln County New Mexico 20,497 4,505 $1,273,152
Izard County Arkansas 13,696 3,229 $912,543
Brunswick County North Carolina 107,431 23,026 $6,507,347
Camden County Missouri 44,002 9,534 $2,694,391
Gladwin County Michigan 25,692 5,853 $1,654,108
Prairie County Montana 1,179 307 $86,760

You may have noticed from the data that Florida, the Great Lakes, Southwest, and the Ozarks have disproportionately high representation on this list. This is due to the large retirement population in these regions but also represents an opportunity for a public education initiative.

It is also important to note that these values are only for one year, and the values over the course of a decade or generation would be staggering. Additionally, the figures represent the amount of money forfeited by the entire county, not individuals.

The results were determined by assuming an equal distribution of life insurance policies across the United States. There are 46,000,000 people over 65 in America who forfeit a combined $13 billion. Using this figure along with US census data for every county, we were able to calculate the estimated proportion of the $13 billion forfeited in each county. For this reason, the numbers in the far right column are an educated estimate.

To learn more about life settlements check out our life settlements overview.

 

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