Does your life insurance have any value while you are living?
Updated: Jan 11, 2019
It May come as a surprise to many older adults that the life insurance policies they have been paying into for years might allow them to receive a lump sum payout of money while they are alive. The way this can be done is through a life settlement.
What is a life settlement?
When a person no longer needs their life insurance policy, they may be eligible to sell it to a third party for more than the surrendering it to the insurance carrier. This sale is called a life settlement. On average, seniors who sell their policy in the life settlement market receive up to 9 times the cash surrender value.
This option provides great value and best of all, you receive a lump sum payment while you are living.
“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 this possibility.--Benjamin Stock”