Basic Life Settlement Transaction
A life settlement is selling your life insurance policy for a cash settlement. This may sound like surrendering your policy with the insurance company, however it is quite different. You see a life settlement gives you more money than the insurance company. Life Settlements provide more money because they use factors like your age, health, and premiums to decide what your policy is worth. Also through a life settlement broker like Life Settlement Pro, a number of life settlement companies are given the opportunity to purchase your life insurance policy. This competition generates cash settlements that are much money than taking your surrender value. In the end policy holders end up with the true market value of their life insurance policy.
People take part in a life insurance settlement for a number of reasons. The two most common reasons are because the life insurance policy is no longer needed or the premiums have become unaffordable. Other reasons include to offset stock market losses, complete a 1035 exchange, or cover the cost of debt caused by any number reasons.
If you would like to discuss life settlements more with one of our professionals, please call 1-888-973-8377 and we will be more than happy to respond to any of your questions.
Life Settlements are also referred to as Senior Life Settlements and Senior Settlements.
