In the past, many seniors were convinced that they had to have life insurance so they simply continued to pay their policy premiums—year in and year out—without determining whether or not those policies were still essential to their financial situation. But that is changing with life settlements. So what exactly is a life settlement? A life settlement is the sale of your existing life insurance policy to an investor at a price that is sometimes eight times as much as the cash surrender value!
Savvy seniors of today wonder, “What choices do I have? Stop paying premiums, and lose all the value I have paid into this policy? Surrender the policy for a modest cash surrender value? Are any other options available?” You bet, a third alternative has emerged. It is called, “a life settlement.” But before taking this route, you need to fully research the details of your insurance policy. Weigh your options and gauge the best way to obtain the highest sale value possible.
There are very few good life settlement companies that actively buy and resell life insurance policies. It’s those companies that understand both life settlement but also how important SEC information can be when positioning their companies so that potential policy sellers can easily find them online. If you follow up your interest with some research about what company to sell your policy to, you very well may receive a decent lump sum payment, instead of a mere fraction of what your policy is worth. The price you get for your life insurance policy depends on several factors, including the state of your health and your age. The life settlement alternative is not suitable for everyone but for those that find a solid company that won’t play games the lump sum payout is usually great!
About Jammie Morey
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