If you are 65 years or older and own a Life Insurance Policy that is greater than $250,000 face amount/death benefit, and your circumstances have changed since the original policy was issued, let us do a FREE policy appraisal and analysis.
Reasons why a policy may no longer fit your current needs and you may be inclined to Surrender or Lapse:
- Premium payment is too expensive to manage because of financial issues/lack of liquidity
- Under performance of a existing policy such as those that rely on a specific interest rate or stock market performance
- A Key Person policy or a policy tied to a Buy/Sell isn’t needed because of retirement, resignation or the sale of a business
- Succession planning
- Bankruptcy (personal or Corporate)
- A Term policy is about to lapse or the conversion option is about to expire
- Death or Divorce of Beneficiary, or they just don’t need the money
- Because of recent Estate/tax Planning, their estate has been reduced and their tax burden lessoned.
- Considering a 1035 Exchange
- Applying for Medicaid (or a similar program) and needing to shed the policy
Your settlement amount will be determined by a combination of:
- Type of policy
- Policy face amount
- Insurance company rating
- State of residency
- Policy premiums/year
- Age, gender and life expectancy of insured
Benefits to you:
- Monetizes often overlooked asset
- No obligation
- Immediate capital
- Relief of premium expense
- Maximizes asset recovery
- Alternative to surrendering or lapsing a policy