WHEN IS IT TIME TO CONSIDER A LIFE SETTLEMENT?
Life settlements offer a new possibility for policyholders to sell an unwanted policy. By selling an unwanted policy – or one that is no longer required – an individual receives the funds they need for paying bills, medical expenses, or even retirement.
- A policyholder paying expensive premiums for a policy they do not need or cannot afford to pay.
- The insured outlived their beneficiaries and no longer have to pay on a policy.
- The ability to use policy funds for charitable donations. Giving to charity allows you to see your donation in action throughout life and qualifies as a tax deduction.
- The policyowner’s health has not improved since the policy’s issue date.
- A policyowner’s need to pay for the costs associated with long-term care services.
Many scenarios exist where a life settlement can help an individual turn life insurance into a salable asset that offers a profitable way to alleviate costly premiums or an unwanted policy.
For life insurance policies no longer required or needed, several instances exist:
- A modification in ownership of an organization or retirement.
- After a business has been sold, or stakeholders have left the organization, a policy to finance a buy-sell agreement is no longer required.
- After a business’s key personnel have left the company, a keyman policy is no longer needed.
Regardless of the matter at hand, a life settlement remains a better option than a policy lapse or surrendering it back to the life insurance company.
” See if you qualify for a Life Settlement, call us today at 800-216-2513 or email email@example.com “– Trust Life Settlements