Having a life insurance policy can end up being an immense blessing to your family. Thanks to Aspen Life Settlements, selling your policy can help your family, too!
You may have heard the adage attributed to Henry Ford that if you chop your own wood it will warm you twice–once when you split it, and again when you burn it. The analogy we’re making here isn’t perfect, but we’ll explain more about what Aspen Life Settlements makes possible in this post.
1. Owning Your Life Insurance Policy
Your life insurance policy provides a great deal of financial security to your family and loved ones. The coverage it provides and the death benefit it promises as a result allow you to rest easier, knowing that if the unthinkable happens to you, your family will be taken care of financially by your policy’s death benefit.
You are irreplaceable, but the income you bring home doesn’t have to be. Providing for your family’s financial needs in the event of your passing is a sobering challenge–one that millions of people turn to life insurance in order to solve.
There are countless different kinds of policies, and a slew of unfamiliar vocabulary to learn in the search for the policy that best fits you. At Aspen Life Settlements, we focus primarily on “whole life” insurance policies, and some “IUL” policies. These kinds, often called “cash value” life insurance, not only provide a death benefit, but also put some of the money you pay into them aside into something kind of like a savings account. Because of this savings component, we are able to work some magic (it’s actually just math!) and allow your life insurance policy to help your family in another way.
2: Selling Your Life Insurance Policy
If having a life insurance policy is so great for your family, why would we be telling you to sell it?
Well, just selling your policy the traditional way probably wouldn’t do a lot of good for your family. In these arrangements, you actually give up your death benefit–the very thing meant to bless your family. This is, of course, assuming you’re able to qualify for a “traditional” life settlement.
But our advice isn’t to sell your policy to just any life settlement firm–it’s to come to Aspen Life. (And we don’t just say that because it’s in our best interest either! Let us explain!)
Aspen Life Settlements isn’t interested in your death benefit. Remember that “cash value” savings feature in your whole life policy? That’s really what we’re interested in–and that’s it. It gives us a nice, safe place to save and grow our own money.
So what do we do with the death benefit? We leave it with you–for your beneficiaries–where it rightly belongs. Selling your policy to Aspen Life is kind of like renting out a closet in your house. We use the closet to hold our money and pay you cash for the house. You still get to live there, and you don’t have to pay a mortgage or rent again.
Back in life insurance terms, we pay you cash for your policy, we take overpaying your premiums, and you and your family still get the death benefit.
You can see how owning your life insurance policy is a great precautionary measure that ensures your family’s financial safety in your absence. And, you can see how keeping the most important part of that policy–the death benefit–gets even better when you don’t have to pay for it. In fact, Aspen Life Settlements even pays you for this policy that your beneficiaries still get to benefit from.
Reach out to us today to see how much your policy is worth, and to learn how to use your life insurance policy to help your family even more.