Posted Nov 08, 2017
Don’t Worry – Be Happy – Life Settlement is the Solution to Your Financial Problems
Stressing about money issues is familiar to most people. Many of us have experienced money or financial stress as we planned to save for the down payment on our first home, braces for our children’s teeth, or their college education.
As we move into the retirement phase of our lives, we get confronted with a new set of worries. Did we save enough for our go-go years and beyond? Will health care costs continue to spiral upwards and cause me to consume my retirement nest-egg? Will I lose my independence and rely on children or other family members for my care? With 10,000 people a day turning 65, the stress meter is ticking higher and higher for many seniors.
We offer a suggestion on how to leave your worry behind and be happy. Many individuals do an inventory of their assets, pensions and social security income as they approach retirement. All too often, however, they leave a very valuable asset in the drawer, their life insurance policy.
Many individuals with an existing life insurance policy only think about it in terms of the surrender value they would get by returning it to the insurance company or the death benefit that would be paid to a beneficiary upon their death. A life insurance policy has another value – potentially a value that is three to five times higher than the surrender value. The method for creating this additional value is called a Life Settlement and represents the sale of an existing life insurance policy in exchange for a cash payment.
A life settlement is best suited for an individual over the age of 65 who has some medical impairments. Additionally, we’ve realized the best success for our clients when the insurance policy death benefit is $250,000 or greater and the insurance company that issued the policy is “A” rated or better.
We recently helped a 73-year-old retired physician create $40,000 of additional retirement money from a life insurance policy that had $508 in cash surrender value and $355,700 of death benefit. The additional $40,000 will go a long, long way towards the enjoyment of his go-go years.
If you are entering or already in retirement and seeking a way to relieve yourself of financial stresses, the sale of your life insurance policy may provide an answer. Please call us at (877) 927-7243 for more information. You can also get an Instant Estimate of the potential settlement value of your policy.