Seniors face many challenges in today's financial world of rising costs and financial losses. If you are on a fixed income, it can become especially difficult.
Offers from banks and agents to take on new loans, lines of credit, or risky financial investments will only add unnecessary debt to the burdens faced. Seniors need security, not risky spending and more borrowing.
There is an asset that you may not have thought of, that has been forgotten, or didn't know it could be done after paying for it year after year. Its your life insurance policy. Yes, your life insurance policy can be sold like any other asset.
A settlement amount much higher than a life insurance policy's surrender value can be obtained.
These life time settlements, or often called life settlements, have been attracting much more attention lately.
Like your house, stocks, bonds, precious metals, etc., life insurance policies can not only be bought, but sold to the highest bidder.
And it doesn't matter what type of policy either, whether whole, universal, convertible term, variable, survivorship, adjustable, or joint life.
When most people talk life insurance, they usually make the joke that I'm worth more dead than alive. But you can turn the death benefit you leave to your heirs into a living benefit that can be used to pay for your immediate retirement needs now.
These living benefits can be used at your discretion. You could use the money to purchase an annuity to have an income as long as you live.
The money could be used to pay for long term care and relieve your loved ones of caring for you. Or it could be used to pay for an unexpected health issue. Or maybe you need to pay for housing and travel expenses.
What if you simply don't want to pay the premiums anymore for changing circumstances.
Lets say you can no longer afford the premiums or your term policy is expiring. If your current life insurance policy is about to lapse anyway, why not get something for it.
There are alternatives and options. Selling the policy makes perfect sense if its going to lapse and you and your heirs get nothing after paying all those premiums year after year.
Also, maybe yours heirs are well off enough themselves and won't need so much money to cover your estate taxes after God calls you home.
Maybe you made a mistake and have an extra policy an agent pressured you into buying and don't want to pay the premiums anymore on the policy. You can't go back to your insurance company and ask to sell it back to them.
All the insurance company can do is give your cash surrender value to you for much less than what you could get from a settlement company.
In fact, insurance companies would rather you not know that you can sell your policy because a lot of policies simply lapse and the insurance company doesn't have to pay the policy's beneficiaries.
Whatever your need or want, selling your life insurance policy gives you another option that you may not thought was possible.
Offers from banks and agents to take on new loans, lines of credit, or risky financial investments will only add unnecessary debt to the burdens faced. Seniors need security, not risky spending and more borrowing.
There is an asset that you may not have thought of, that has been forgotten, or didn't know it could be done after paying for it year after year. Its your life insurance policy. Yes, your life insurance policy can be sold like any other asset.
A settlement amount much higher than a life insurance policy's surrender value can be obtained.
These life time settlements, or often called life settlements, have been attracting much more attention lately.
Like your house, stocks, bonds, precious metals, etc., life insurance policies can not only be bought, but sold to the highest bidder.
And it doesn't matter what type of policy either, whether whole, universal, convertible term, variable, survivorship, adjustable, or joint life.
When most people talk life insurance, they usually make the joke that I'm worth more dead than alive. But you can turn the death benefit you leave to your heirs into a living benefit that can be used to pay for your immediate retirement needs now.
These living benefits can be used at your discretion. You could use the money to purchase an annuity to have an income as long as you live.
The money could be used to pay for long term care and relieve your loved ones of caring for you. Or it could be used to pay for an unexpected health issue. Or maybe you need to pay for housing and travel expenses.
What if you simply don't want to pay the premiums anymore for changing circumstances.
Lets say you can no longer afford the premiums or your term policy is expiring. If your current life insurance policy is about to lapse anyway, why not get something for it.
There are alternatives and options. Selling the policy makes perfect sense if its going to lapse and you and your heirs get nothing after paying all those premiums year after year.
Also, maybe yours heirs are well off enough themselves and won't need so much money to cover your estate taxes after God calls you home.
Maybe you made a mistake and have an extra policy an agent pressured you into buying and don't want to pay the premiums anymore on the policy. You can't go back to your insurance company and ask to sell it back to them.
All the insurance company can do is give your cash surrender value to you for much less than what you could get from a settlement company.
In fact, insurance companies would rather you not know that you can sell your policy because a lot of policies simply lapse and the insurance company doesn't have to pay the policy's beneficiaries.
Whatever your need or want, selling your life insurance policy gives you another option that you may not thought was possible.
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