Mississippi Life Settlements
Mississippi Life Settlements
The use of life settlements in the state of Mississippi are helping more and more seniors everyday. Sadly many still have not heard of life settlements or do not understand how they work. The process involves using the fair market value found in your life insurance policy rather than the comparatively small surrender value. This issue usually is confronted by seniors when the cost of care becomes overwhelming and the best option available seems to be going on to Medicaid. When this happens an in-force life insurance policy is usually abandoned or surrendered to meet the qualifications of the state’s Medicaid program. Not enough seniors realize that a far greater value can be gained from the use of a Mississippi life settlement. Through this process a life settlement company will purchase your life insurance for a price less than the death benefit, but far more than the cash surrender value. The funds from the sale can then be used to pay for care needs as the owner sees fit.
States are dealing with the issue of life settlements in a variety of ways. Some have chosen not to regulate settlements at all, leaving consumers in a somewhat vulnerable position. Mississippi life settlements, on the other hand, protect consumers by requiring special licensing from both the brokers of life settlements as well as providers.
The cost of paying for seniors care needs can be overwhelming when confronted with a new circumstances and medical requirements. Find out how Mississippi life settlement might be able to alleviate these needs by finding the hidden value in your life insurance policy. Nothing can be a better asset than knowing your options before senior care issues arise.