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! The money is yours and never has to be paid back. 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 with cancer. 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
Will my Health Insurance Cover my Costs?
While health insurance will without a doubt help you to cover the costs involved in your cancer treatments, most policies will still involve a substantial amount of out of pocket costs. Most families can’t afford $25,000 – $30,000 annually, which is why a life settlement is an excellent supplement to traditional health insurance.
If you make the decision to pursue 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 treatments such as chemotherapy, radiation, drugs, and surgery.
What Types of Policies can Abacus Purchase?
All kinds. Term, Whole, Universal, Group plan, FEGLI or other –even in combinations, we are here to help give assistance for nearly every policy type.
How Long does Abacus take to Provide a Quote?
Abacus Express features immediate pricing. 20-minute interview. Done. This is just how we do business. We are bold in our advanced leadership, procedures, unique in our customer care services and clearly proficient in our provision of the top-most funding.
Types of Cancer Abacus can Assist with
Life Settlements may financially help patients with many different types of cancer including, but not limited to Liver Cancer, Brain Cancer, Ovarian Cancer, Pancreatic Cancer, Cervical Cancer, Mesothelioma, Prostate Cancer, Ovarian Cancer, Asbestos Cancer, Bone Cancer, Blood Cancer, Breast Cancer, Leukemia, and Colon Cancer.
How Quickly can Abacus Purchase my Policy?
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 at health crisis moments. 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 7-10 days.
How Much does a Settlement Quote Cost?
Nothing, just a few minutes of your time. And there is no obligation whatsoever.
How Much Money can I Receive From my Policy?
These numbers vary from patient to patient depending on a few important factors such as your life expectancy, age, and disease progress. But here’s a typical scenario: If you have a $250,000 policy, in many cases we can provide you with between $175,000 to $200,000 for your immediate use for whatever form of treatment you’d like to pursue.
Resources for Cancer Care
Partnership for Prescription Assistance (PPA) 888-4-PPA-NOW (888-477-2669) www.pparx.org
CancerCare Co-Payment Assistance Foundation 866-55-COPAY www.cancercarecopay.org
Chronic Disease Fund 877-968-7233 www.cdfund.org
HealthWell Foundation 800-675-8416 www.healthwellfoundation.org
The Leukemia & Lymphoma Society’s Co-Pay Assistance Program 877-557-2672 www.lls.org/copay
National Organization for Rare Disorders 800-999-6673 (Voicemail only) 203-744-0100 www.rarediseases.org
Patient Access Network Foundation 866-316-7263 www.panfoundation.org
Patient Advocate Foundation Co-Pay Relief Program 866-512-3861 www.copays.org
Patient Services Incorporated 800-366-7741 www.patientservicesinc.org