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Common Reasons to Pursue a Life Settlement
In terms of consumer value, a life settlement provides seniors with a sensible solution for a policy they no longer need or can no longer afford. Rather than allowing it to lapse or surrendering the cash surrender value, a life settlement offers another alternative. There are a plethora of motivating factors that encourage seniors to get rid of their policies.
The top three reasons are:
- Funds are needed to pay for medical care or some other expense.
- The premiums are no longer affordable.
- Your lifestyle needs have changed and the policy is no longer needed.
How Can a Life Settlement Help Fund Cancer Care?
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, cancer patients are twice as likely to file for medically related bankruptcy. 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.