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You may have purchased life insurance to protect your family or business, but as your life has changed, your life insurance needs may have changed as well.

You might consider selling your life insurance policy if…

1. Your premiums have become too expensive.

If your life insurance premiums have become unaffordable, you have a few options. One common choice is to stop paying your premiums. We strongly discourage this practice as it will cause your policy to lapse, deeming it worthless. Another generally unfavorable option is to surrender your policy back to your life insurance company for the cash surrender value. In many cases, this will only pay out pennies on the dollar.

Instead, we recommend you consider what may be a better option for you, a life settlement. A life settlement can potentially provide you with a payout far greater than the policy’s cash surrender value.

2. You no longer need the policy.

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3. Your term policy is about to expire.

If your term life insurance policy is close to expiration, your premiums are likely to increase significantly. Due to the nature of term life policies, they usually have no cash surrender value. If you have a term life insurance policy that is about to expire, consider selling your policy for cash if you qualify to sell your life insurance policy.

4. You need to cover medical expenses

We understand both the emotional and financial stresses unexpected medical costs can cause. Selling your life insurance policy can help pay for them and relieve some financial strain.

5. You’re looking to boost your retirement income.

By selling your life insurance policy for cash, you can generate supplemental income for retirement. In some cases, you can even maintain a portion of your policy’s death benefit in addition to receiving cash for selling a portion of your policy's death benefits.

6. You could use some extra money

Whether you want to finally go on your dream vacation, buy a new car, help send your grandchildren to college, or even buy a new house, you have endless possibilities for using the cash you could receive from selling your life insurance policy. To see if you qualify for a life settlement, give us a call at (800) 591-2551