Why Sell Your Life Insurance Policy?

If a life insurance policy is no longer needed, no longer wanted, or no longer affordable it might be a great time to sell. Your life insurance policy might be worth more than its cash surrender value. 

Do you not lapse or surrender your life insurance policy until you understand if its worth more. 

WHY LIFE SETTLEMENTS - LIFE POLICY OWNERS - GETTING STARTED
LISA - About Consumer Benefits

Reasons to consider selling:

  • The premiums are no longer affordable
  • The need to replace lost income in case of death of the insured no longer exists
  • The need for funds to pay estate taxes no longer applies
  • There is a need for resources to pay for health expenses and long term care
  • A term policy may be reaching the end of the coverage period
  • Funds are wanted to improve a retirement lifestyle

Alternatives to selling a policy:

The sale of a life policy is not for everyone.

  • Keep the policy in force through a loan or use of the cash surrender value
  • Seek an accelerated death benefit, if available
  • Assign the policy as a gift or charitable contribution
  • Convert a term policy to permanent insurance
  • Reduce the death benefit with a lower face value and lesser premiums
  • Lapse or surrender the policy

Anyone considering a life settlement should first talk with their insurance, financial and/or legal advisor to explore all legal, tax and other consequences from selling their policy.

Do I Qualify?

LEARN MORE

Stay Informed of Industry News

Latest Blogs

10/15/2020

Explaining Life Settlements - What Policyholders Need to Know

Do you have a life insurance policy that you’re about to let lapse? Are you 65 years or older? 

Read More
09/16/2020

5 Tips for a Successful Life Settlement Negotiation

There are a lot of factors that go into determining the value of a life settlement. However, none are as important as your ability to…

Read More
03/03/2020

LISA Endorses H.R. 5958, the “Senior Health Planning Account Act”

The Life Insurance Settlement Association (LISA) today endorsed H.R. 5958, the “Senior Health Planning Account Act”, introduced by Rep. Brian Higgins (D-NY) and Rep. Gregory…

Read More
11/20/2019

Get Your Team on the Court

The life settlement industry is undergoing a period of steady growth, fueled by demographic tailwinds and increased consumer awareness of the life settlement option as…

Read More