There are many people throughout the country who own life insurance policies that they may no longer need or can afford. Life Option Settlements are transactions that allow a person (usually 55 years and older) to offer up their policy to a buyer - who then provides cash to take over ownership and the eventual death benefit. The reason one of the stipulations is an older person or one who is in poor health is the buyer does not want to wait 20 or 30 years to get paid.
Sell Insurance To Raise Money
As time goes on, money hardships can strike a person and family. This is especially true during hard economic times, poor health leading to medical expenses and other serious quality of life issues. When someone is looking to sell and insurance policy to raise cash or money, it is usually a pretty serious situation. When I evaluate a person's situation - I want them to understand what the value of the potential cash influx now compared to the eventual death benefit years ahead. We also talk about (and quite frankly), where a life expectancy can be (if a terminal illness is involved).
Is the potential money offer when someone is looking at selling their insurance plan of a greater benefit to their quality of life for themselves and their family?
Age
The best offers that I get are for people normally over 65 years of age or who have an illness where the prognosis is not good. Yes - this is not a happy business sometimes to even talk about, but when someone at a certain age truly needs the money - it can help them a great deal. There are still many people who are eligible to sell transfer their insurance and know how to. The greater the age - the higher the cash offer in most cases.
Insurance Premium Too High
A major reason people ask me "how can i sell my policy?" is the cost of the policy is too high. There are many people who even let these life policies lapse - worthless! What a waste. If someone meets the other criteria (age, policy type, illness), then the cost of the premium can be a big factor of getting a deal done for you and your family.
Types of policies that can be sold
There is a wide range of life insurance types including Whole Life, Convertible Term, Variable and some others. Generally as long at it is an individual life policy and can be convertible - it can be sold for a cash settlement.
Always examine the pros and cons thoroughly when looking to transfer your life insurance policy. For many, the cash settlements are very substantial but not for everyone. At http://www.howtosellmypolicy.com , we will educate and inform.
Sell Insurance To Raise Money
As time goes on, money hardships can strike a person and family. This is especially true during hard economic times, poor health leading to medical expenses and other serious quality of life issues. When someone is looking to sell and insurance policy to raise cash or money, it is usually a pretty serious situation. When I evaluate a person's situation - I want them to understand what the value of the potential cash influx now compared to the eventual death benefit years ahead. We also talk about (and quite frankly), where a life expectancy can be (if a terminal illness is involved).
Is the potential money offer when someone is looking at selling their insurance plan of a greater benefit to their quality of life for themselves and their family?
Age
The best offers that I get are for people normally over 65 years of age or who have an illness where the prognosis is not good. Yes - this is not a happy business sometimes to even talk about, but when someone at a certain age truly needs the money - it can help them a great deal. There are still many people who are eligible to sell transfer their insurance and know how to. The greater the age - the higher the cash offer in most cases.
Insurance Premium Too High
A major reason people ask me "how can i sell my policy?" is the cost of the policy is too high. There are many people who even let these life policies lapse - worthless! What a waste. If someone meets the other criteria (age, policy type, illness), then the cost of the premium can be a big factor of getting a deal done for you and your family.
Types of policies that can be sold
There is a wide range of life insurance types including Whole Life, Convertible Term, Variable and some others. Generally as long at it is an individual life policy and can be convertible - it can be sold for a cash settlement.
Always examine the pros and cons thoroughly when looking to transfer your life insurance policy. For many, the cash settlements are very substantial but not for everyone. At http://www.howtosellmypolicy.com , we will educate and inform.
