Did You Know You Can Sell Your Life Insurance Policy?
Most people own some type of life insurance. The coverage is typically designed to provide your family with a source of income in the event of an untimely loss. But what happens if circumstances change and the policy is no longer needed? Or, if you, unfortunately, can no longer afford the premiums due to medical expenses?
Historically, the only option available was to surrender it back to the insurance company for whatever cash value remains in the policy, or cancel the policy and receive nothing. But now, you have better options. Through a powerful but little-known Supreme Court decision in 1911, it was ruled that a person’s life insurance policy can be legally sold– even while the policyholder is still living. You may be eligible to receive up to 80% of the face value amount of the policy today! The money is yours and never has to be paid back. Most policy types can qualify, even term! Most importantly, the funds can be spent any way you like– even for natural and alternative treatments.
How Can a Settlement Help Me?
Treating your cancer can be very expensive. It’s often a challenge to keep up with the additional costs you or a loved one may experience after being diagnosed. According to a recent NBC News story, treatment costs are only going to increase. Many people facing late-stage cancer have to delay much needed life-extending treatments because the cost can be more than they can afford, which only makes the fight harder when they are ready to pursue treatment.
According to Mayo Clinic, an uninsured cancer patient will spend more than $100,000 annually on treatment. Even with health insurance, a patient can spend approximately $25,000 to $30,000 in out of pocket expenses. On top of that, studies have shown that bankruptcy rates are nearly double among cancer patients within the first one year of diagnosis. Often, individuals facing cancer can’t afford the premiums on their life insurance policy due to rising medical costs and loss of income. A lapse or surrender of a valuable life insurance policy at this important time can be devastating. Many people are unaware that there are alternatives to lapsing a policy for people facing a life-threatening illness.
Abacus Settlements, as an A+ Rated Better Business Bureau Settlement Provider, is here to help. Since 2004, the professionals at Abacus have helped thousands of individuals sell their life insurance to help pay for medical and long-term care needs. Rather than surrender your policy back to the carrier for little to no value returned, or go without life-saving medical care; reach out to Abacus today. Find out if you qualify after a single 15-minute, obligation-free phone call. Contact us at 1- (800) 561-4148 or qualify your policy online using our One-Step Life Settlement Qualifier.
Frequently Asked Questions
While health insurance will undoubtedly help you to cover the costs involved in your cancer treatments, most care will still involve a substantial amount of out of pocket costs. Most families can’t afford $25,000 to $30,000 annually. which is why a life settlement is an excellent supplement to traditional health insurance.
If you make the decision to pursue a natural treatment, most insurance companies will deny your funds. Many people are deeply disappointed to find that if they prefer to use natural means, their health insurance claims will be denied by providers who only assist with benefits for conventional, allopathic treatment such as chemotherapy, radiation, drugs, and surgery.
Nothing! We just need a few minutes of your time to conduct a short interview. Afterward, there is no outstanding obligation whatsoever.
Abacus Express features immediate pricing. All we need from you is one 20-minute interview and then you’re done! We are bold in our advanced leadership procedures and unique in our customer care services. We hold ourselves to a higher standard as we strive to be proficient in our provisions of the top-most funding.
Our uniquely streamlined processes are state-of-the-art and significantly ahead of virtually everyone in the settlement space. Abacus Express is setting records for speed in the industry, a fact that is vital to families in a health crisis. From initial application, we are usually able to completely close our transactions within 30-45 days. Astonishingly to most, if they qualify, patients may even be eligible to receive an advance or partial payment upfront within 7 to 10 days.
All kinds. Term, Whole, Universal, Group plans, FEGLI, and others -even in combinations. We are here to help give assistance for nearly every policy type.
The amount of money a patient receives can vary depending on a few important factors such as your life expectancy, age, and disease progression. Here is a scenario to help you gauge your own policy’s price: If you have a $250,000 policy, in many cases we can provide you between $175,000 to $200,000 for your immediate use for whatever form of treatment you would like to pursue.
Life Settlements may be able to financially help patients with many different types of cancer. We strive to do whatever we can to alleviate the financial burden that large medical expenses can put on a family. With that in mind, Abacus works with clients suffering from almost any type of cancer. We try to provide you with the quickest and easiest settlement process possible, regardless of your diagnosis.