Some Reasons For Selling Your Life Insurance Policy
Premium payments have become overwhelming
Making gifts to heirs
Enjoy your retirement years by receiving a lump sum payment
Health care needs such as paying medical bills or funding long term care
You are over insured
Ability to invest your money elsewhere (stocks, art, collectibles)
You no longer need life insurance due to changing life circumstances
Pay off debt
You were considering letting your policy lapse or surrendering it for cash value
Want to sell only part of your policy?
SELL SOME & KEEP SOME
With this type of transaction called a Retained Death Benefit option, qualified policyholders now have an alternative financial solution (in states where available). This option offers you the best of both worlds with the ability to get a lump sum payment and the peace of mind of keeping a portion of the death benefit.
- The insured no longer makes premium payments
- The insured keeps part of the death benefit
- Seller of the policy designates beneficiary but this cannot be changed without beneficiaries permission
- Transactions are regulated at the state level and not all regulations are the same
- This Retained Death Benefit option gives qualified policyholders much needed cash while maintaining a portion of the death benefit for their loved ones
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