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Struggling to keep insurance premiums
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Sell a portion of the policy

Daniel and Grace are struggling to make their premium payments and don’t want to have to let their insurance policy lapse because there is still a need for them to leave some of the death benefits for their loved ones. Through the retained benefit option, Daniel and Grace may be able to sell a portion of their life insurance policy while retaining a portion for their loved ones. Daniel and Grace may also be able to sell their current policy and use the proceeds to purchase a new, paid-up policy with better terms and conditions. 
Are there more attractive alternatives than to lapse or surrender a policy for Daniel and Grace? Very likely. What steps should they take next?