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Options for your life insurance
In terms of consumer value, selling your insurance policy provides seniors and the critically ill 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, selling your policy offers another safe, viable 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 or lifestyle needs have changed and the policy is no longer needed.
Selling Your Policy to Cover Medical Bills
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.