What is a life settlement?
A life settlement is the sale of a life insurance policy to a third party in exchange for a cash. The company which purchases your policy will be responsible for all future premium payments and will receive the death benefit.
Why would I sell my life insurance policy?
The policy premium has become too expensive
You no longer need the life insurance coverage
You need money now for pressing needs like medical care
You want money now to enjoy while you're still living
You have a business or investment opportunity and need cash to fund the opportunity
Can I sell a portion of my life insurance policy?
Yes
Can I sell multiple policies?
Yes
Can I sell my term life policy?
Usually-Yes
What types of policies qualify for a life settlement?
Most types of life insurance, including universal life, whole life, and term life policies.
What factors affect the offer amount for my policy?
The value of the policy, considering factors such as face value, type of policy, and cost of future premium payments. Your age; Your health;
How long does the life settlement transaction process take?
Many life settlements are complete within 60 days.
How old do I have to be to sell my life insurance policy?
Generally, at least 65 years old . You may still qualify if you are younger than 65 and have a significant health issue.