Did you know you can sell all or a portion of a life insurance policy, even term insurance?
(2 minute read)
Life Settlement Advisors helps clients discover the hidden asset of which most individuals are unaware. Clients can sell all or a portion of a life insurance policy––including term insurance––which converts the death benefit into a living benefit. To help you better understand why life settlements may benefit you in the future, we’d like to share some real success stories, highlighting clients who have benefited from a life settlement.
You may sell your policy if your needs and/or circumstances have changed.
Ms. Perkins, a 75-year-old widow, had a $750,000 universal life policy. Because of recent life changes, she no longer needed the policy. She wanted to help fund her grandchildrens’ college tuition. Her financial advisor informed her that she could sell her life insurance policy. As a result, Ms. Perkins sold her policy for $150,000.
You may sell your policy if you have too much life insurance and want to retain a portion of it.
Mr. Brown, a 76-year-old male, owned a $350,000 Universal Life Policy. The policy was purchased for the kids’ college fund and to pay off the balance of the mortgage on the home in the case that Mr. Brown passed away unexpectedly. Today, the kids have graduated from college, and the mortgage has been paid off. Mr. Brown no longer needed the $350,000 in death benefit, but Mrs. Brown wanted to keep some insurance on Mr. Brown. They sold $300,000 of his $350,000 dollar policy and retained $50,000 for his wife. He also received $45,000 in cash as well.
You may sell your policy to purchase Long-Term Care.
Mr. Johnson, a 72 -year-old male, had a 20-year $500,000 Term Life Policy that was about to expire. He was going to let it lapse until he discovered that he could sell his policy. His policy was converted to a permanent Universal Life Policy and sold it for $75,000 which was used to purchase Long-Term Care insurance coverage.
Ms. Perkins, Mr. Brown, and Mr. Johnson all had different reasons for taking advantage of a life settlement. Whether the reason is to benefit someone else or provide yourself with a benefit that will sustain your current situation, a life settlement could be a wise decision to make. Life Settlement Advisors is committed to helping you make a decision that could benefit you and your family for years to come.
Did you know you can sell all or a portion of a life insurance policy, even term insurance? Selling an unwanted life insurance policy is no different than selling your car, home or any other valuable asset that will create immediate cash. Contact us today to learn more.
Life Settlement Advisors