A life settlement allows qualified insureds to turn their life insurance policy into cash by selling it. When you sell your policy all rights, title and future interest in the policy are legally transferred to the buyer. If you have a policy that you don't need any longer it is something to consider.
Generally life insurance policies are taken out when the insured is in good health. Some of us will have serious health issues develop. If this is you and you no longer have a need for your insurance coverage, you may have a saleable asset.
Some reasons to consider a life settlement:
- You no longer need the coverage for your family (children are grown, mortgage is paid, etc.)
- You have a policy but you can't afford the premiums any longer.
- Your beneficiary has passed away and you don't need the policy.
- You have a keyman policy and the employee has left the company.
- You need money for long term care and your policy doesn't allow you to draw on the death benefit.
Whatever your reasons, a life settlement can be an opportunity that you didn't know you had.
For more information, call us at (800) 698-7033