Thinking about selling your Whole Life insurance policy?
According to the Life Insurance Settlement Association (LISA), each year more than $100 billion dollars of life insurance payouts are allowed to lapse simply because policy owners don’t know they can sell their policy. Worse than that, many policy owners decide to surrender their policy for less than it’s worth.
Your life insurance policy is your personal property, it is an asset and you can convert it to cash with a life settlement.
WHY you may be looking to sell your Whole LIfe Policy:
No longer see it as a wise investment
Would like to purchase a different kind of life insurance
Can’t afford to keep paying the premiums
Need immediate cash for medical issues, college tuition, down payment, etc.
Whatever your reason is for looking to cash in, we want to be sure you have the best options available. Read more on what a “typical” life settlement entails and how Aspen Life can help you.
WHat is a Typical Life Settlement?
A typical life settlement involves the sale by the owner of an existing life insurance policy to a third-party investor for an amount that is typically greater than its cash surrender value, but less than the policy’s full benefit.
The seller receives an upfront cash payment and the buyer assumes responsibility for all ongoing premium payments. When the insured passes away, the investor collects the policy’s full benefit and the beneficiaries get nothing.
Are You A Financial Advisor?
Your client’s life insurance policy is an asset that needs management. You can help them convert their policy into cash with a life settlement.