Vital Aspect of Financial Planning
Life insurance settlements are a vital aspect of financial planning, especially for those with unwanted or unaffordable policies. If you find yourself in a situation where you are considering letting the policy lapse or surrendering it for the cash value, it's essential to explore other options. In this article, we will delve into recent statistics on the percentage of the death benefit received from insurance companies versus life insurance settlements, and the urgent need to consider this alternative for unwanted or unaffordable policies.
Recent Statistics on Life Insurance Settlements
Recent statistics, cited from the "Life Insurance Settlement Association," show that, on average, policy holders average a payout of 4X more than the cash surrender value in a life settlement.
Reasons People Seek Life Insurance Settlements
There are several reasons why people seek life insurance settlements, especially when dealing with unwanted or unaffordable policies. Rather than letting a policy lapse or surrendering it for the cash value, individuals may seek a life insurance settlement to obtain immediate funds for pressing financial needs or to secure a more suitable financial solution for their changing circumstances.
Get Free Policy Review
If you find yourself with an unwanted or unaffordable life insurance policy, it's crucial to consider exploring the option of a life insurance settlement. You can take the first step by filling out a brief summary of your information for a no-obligation appraisal of your life insurance policy.
The Process and Timeframe
The process of obtaining a life insurance settlement involves evaluating your policy, determining its market value, and finding a buyer willing to purchase the policy. If you are qualified for a life insurance settlement, the approximate time it takes to get multiple offers is 1 - 2 months.
In conclusion, for those with unwanted or unaffordable policies, exploring life insurance settlements can provide much-needed financial relief and a viable alternative to letting the policy lapse or surrendering it for the cash value. By understanding the options available and taking proactive steps, you can ensure that you and your loved ones receive the maximum financial benefit from a life insurance policy. Don't wait until it's too late – take the first step towards exploring life insurance settlements today. Fill out the submission form at the link below so we can discuss your options or give us a call M-F 9a - 9p EST or Sat/Sun 11am - 7pm EST. About Us