Many purchase life insurance to protect from a death; however did you know that nearly 88% of Universal Life policies either lapse or surrender never resulting in a death claim?
According to the "American Council of Life Insurers Fact Book 2015", $602 billion of individually owned insurance benefits lapsed or were surrendered in 2014. In 2015, $182 billion of such benefits were in policies that could have been sold to institutionalized investors through a life settlement transaction.
“There is a valuable hidden asset in life insurance that can be received while living. All financial planners and insurance agents should be talking to their clients about life settlements as a possibility to include in their estate plan. --Benjamin Stock”
If you no longer need your life insurance or can't afford the premiums, NEVER surrender your policy without first exploring the possibility of selling through a life settlement. In most cases, we will be able to evaluate your policy and situation to let you know within 5 minutes if your policy would be sellable and provide a range of value.