A hybrid settlement is a combination of the traditional and retained death benefit option. This option means you can sell a portion of your life insurance policy and retain a portion at the same time.
You will receive a cash payment now, and your beneficiary receives a guaranteed percentage of the benefit when the policy ends, but you have no further obligation to pay future premiums.
Essentially, it provides needed cash without giving up the entirety of a policy. Clients often take advantage of this option to supplement their retirement while still protecting their family financially.
If this sounds like something of interest to you, reach out to an Abacus representative at 800-561-4148, and we can create the perfect policy for you. It’s that easy.