Spotlight on: Life Settlements

Spotlight on: Life Settlements

Before you let that old, unwanted life insurance policy lapse, it may be wise to check all of your options.  Better yet, check to see if your policy could be sold for cash to investors.  You could have a pleasant surprise ahead. What is a Life Settlement? The process of selling an unwanted or unneeded life insurance policy is called life settlement.  The amount you will receive will be less than the face value but…

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How Do Viatical Life Insurance Settlements Work?

How Do Viatical Life Insurance Settlements Work?

People living with a terminal illness are often faced with very tough financial decisions, and selling their life insurance policy for a viatical settlement can help ease some financial worry. It was originally intended for AIDS patients to have early access to their life insurance policies, but has expanded to include other conditions such as cancer, heart disease, and any other life-threatening illness.

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How Can I Cash In My Life Insurance Policy When I’m Older?

How Can I Cash In My Life Insurance Policy When I’m Older?

It’s called a “life settlement” and it’s one way seniors can cash in on their life insurance policies. Those who no longer want to pay premiums or have any need for the coverage are often able to demand higher prices when selling their life insurance to an investor rather than their insurance company. Policies sold by those approaching the end of their lives are particularly valuable, according to a recent report by NBC.

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