Senior Life Settlement
Senior Life Insurance Settlement : Selling a life insurance policy including Senior Life Insurance.
A Life Insurance Settlement occurs when the insurance policy holder sells his existing policy back to a provider or company in exchange for a lump sum payment. The amount paid to the policyholder is a discounted value of the policy’s face value or the Net Present Value. In brief, a insurance policy settlement helps create immediate liquidity allowing the policyholder to make cash out of an unwanted or obsolete insurance policy within the guidelines of the policy. Senior Life Insurance Settlements have indeed revolutionized the Insurance Industry with life insurance policies having a net present day value. It offers a backup to reclaiming life insurance policies which soon become unwanted at a later stage in the life of the insured.
Earlier, if a senior citizen wanted to dispose a life insurance policy that had become old or obsolete, the only option was to terminate or cancel the policy. Senior Life Settlements on life insurance policies enables qualified policyholders to liquidate their policy for a price higher than its cash surrender value. Seniors are given an opportunity to make use of a financial opportunity based on an otherwise obsolete venture. Senior Life Insurance Settlements have become popular financial products and have a good secondary insurance market. Customers are thus in an advantageous position to surrender their life insurance policies at prices well above their cash value.
