Are you aware that you may have hidden cash just languishing inside your life insurance policy? Learn about how an advance on life insurance can get you the money you need, now, from your unwanted life insurance policy.
Life Settlement Blog
If you over age 65 and own life insurance policies that you no longer need you can sell your life insurance policy for cash. Even policies with no cash value but that have insurance face value may qualify for these programs. In general, a life settlement buyer will purchase the policy for less than the face value of the amount of insurance the policy will pay at the time of death but more than the present cash value of the policy.
In general terms, a policy owner’s decision to cancel a universal life insurance policy arises from one of the following: The owner feels that the policy is underperforming projections. Scheduled premium increases make the coverage unaffordable. The needs for which the policy was purchased have changed or no longer exist. To qualify for Medicaid, life […]
Consumers now have the ability to receive a greater value for their insurance policy if they qualify for a life settlement, viatical settlement, or life insurance loan. That is primarily why there is a secondary market for life insurance.
It is recent, but several states do now require that an insurance company make the consumer aware of potential options that may be available to them when they are contemplating the cancellation of their life insurance policy. Even in those few states, it is a somewhat watered down mention that does little to actually inform […]
Term life insurance policy holders or owners of poorly performing universal life insurance policies which were funded with minimum premiums, may find that the premiums now required to keep the policies in force are rising exponentially. This is a burden to many retirees who are simply trying to reduce their living expenses to accommodate retirement […]
All but about 5 states now have at least some Life Settlement regulation and life settlement licensing requirements. Several states led by Washington, now mandate that insurance agents inform their clients of the life settlement option. The fact that there are states that now require their residents be advised of this option by their Insurance Company, speaks volumes around how mainstream Life Settlements have truly become.
Do you feel like you are worth more dead than alive? Will a little liquidity relieve a lot of stress? Do not over look your life insurance policy when you need liquidity, but do your homework, a Cancer Viatical Settlement may not be your only option
OK, I’m still alive and do not need my insurance, now what? Just paying premiums on an unneeded insurance policy can wear on you, but if the premiums are going up each year, the cash value staying the same and even your planner agrees that you do not need the life insurance