Life Settlements Lapse
Rather than let a life insurance policy lapse, you could sell it to a third party for a portion of the face value. The buyer continues to pay premiums and collects the death benefit when you're gone.
How much you'll get from a life settlement depends on your age (in most cases you must be at least 65) and the policy's face value (usually at least $250,000). Most life-insurance policies -- including term-life policies, which normally have no cash value -- qualify, as long as they're convertible. That means you can change them to universal-life or whole-life policies without furnishing proof of good health to the insurance company.
If you are thinking about letting your policy lapse or have a client who is going to let their policy lapse, call 1-888-973-8377 and speak with a Life Settlements Expert to see the true value of your life insurance.
How much you'll get from a life settlement depends on your age (in most cases you must be at least 65) and the policy's face value (usually at least $250,000). Most life-insurance policies -- including term-life policies, which normally have no cash value -- qualify, as long as they're convertible. That means you can change them to universal-life or whole-life policies without furnishing proof of good health to the insurance company.
If you are thinking about letting your policy lapse or have a client who is going to let their policy lapse, call 1-888-973-8377 and speak with a Life Settlements Expert to see the true value of your life insurance.
posted by Life Settlement Pro at 11:00 AM
