Life Insurance Settlement Option

Do you qualify to sell your life insurance policy for cash?

NC, USA, 2021-Jul-26 — /EPR Network/ — Have you contemplated canceling or surrendering your life insurance so that you can stop paying high premiums? If you surrender the policy, you will receive any cash surrender value, but that usually is not much. If you simply stop paying premiums, the policy will lapse and you will receive nothing. Billions of dollars in policy face value lapse each year. Many of these policies could have been sold for cash in the secondary market rather than thrown away. A life insurance settlement can help you retain value from your insurance policy.

What is a life insurance settlement? According to Viatical.org, a life insurance settlement is a financial arrangement in which a third party purchases an existing life insurance policy for a lump sum. In return, the purchaser takes over ownership and beneficiary rights as well as responsibility for future premium payments. The average life insurance settlement amount received by the seller is always higher than the cash surrender value and is usually significantly more.

To learn more about how much your policy may be worth, you can look at a life settlement calculator. Although these can only provide an estimate, they can give you a good idea of potential value. If it is likely that you will qualify to sell your policy, life insurance settlement companies will provide you with a no cost appraisal to determine an accurate value.

There are life insurance settlement options available for whole life, universal life, convertible term policies, and even group policies. Usually, the policy face value must be $100,000 or more. If you are age 65 or older and have had a slippage of health since taking out your policy, you are likely to qualify. Individuals of any age may qualify with a chronic or terminal health condition. Before you throw away your policy, do your homework and explore the possibility of a life settlement. Your existing life insurance may have a tremendous amount of hidden value.

About Viatical.org

Viatical.org is providing the opportunity to learn more about life insurance settlements as an alternative to cancelling or surrendering a valuable life insurance policy.

Contact Details
Company Name: Viatical.org
Telephone Number: 1-800-973-8258
Website: https://Viatical.org

Matched content

Editor’s pick

Express Press Release Distribution