Milestone Providers L.L.C. says it will consider purchasing in-force life insurance policies with death benefits as low as $50,000.
The company has developed processes that enable it to settle policies well below the usual minimum size limit of $250,000, according to Milestone, Philadelphia.
The company will try to make the program appealing to agents and brokers by minimizing the amount of work producers have to do to start the process of selling small policies, Milestone says.
Milestone is offering the micro-policy purchase program to selected individuals 70 years and older who own term life and convertible term life policies as well as older owners of universal life policies.