Selling your life insurance provides seniors with a sensible solution for a policy they may no longer need or can no longer afford. Rather than allowing it to lapse or surrendering it for a cash surrender value, selling your policy offers a viable, safe alternative.
The simplest definition is the sale of an existing life insurance policy to a third party for more than its cash surrender value, but less than its net death benefit. Part of our clientele also seeks life insurance options to pay for medical care.
This financial transaction where the owner of an unwanted life insurance policy transfers ownership and beneficiary rights to an institutional investment fund. In exchange for transferring ownership, the insured receives a cash settlement that can often be four times greater than the cash surrender value. This is not a loan, it is a one-time cash transaction that results in a full transfer of ownership in exchange for a lump sum. The money belongs entirely to the policy seller and can be spent at his or her discretion