#Purchase #term #life #insurance
When Selling Your Life Insurance Policy Makes Sense
If you re like many Americans, you may have purchased life insurance to protect your family or business and provide financial security when it was needed most. But as circumstances change, your insurance priorities may have changed with them, which is why selling your life insurance policy can make sense.
Here are a few important reasons why you may want to consider a life settlement:
- Your life insurance policy is too expensive to maintain.
If your premium payments have continued to increase, your policy may no longer be affordable.
As your circumstances and need for financial protection change, you may want to reduce the overall insurance you own.
Selling your policy can help cover your immediate needs.
The proceeds from the sale of your policy can help boost your savings and supplement your retirement income.
You can sell part of your policy, eliminate costly premium payments and maintain a portion of your coverage.
“The ability to sell their policies as a life settlement enabled policyowners to receive an amount more than four times greater than what they would have received had they surrendered their policies to their insurance companies.”
London Business School Study, June 2013
June had taken out a long term care policy years ago to help her family cover her medical expenses. She could no longer afford the premium payments on the policy. June did some research and learned she may be a candidate to sell her life insurance policy. June was able to sell her policy for $65,500 and use that money to continue paying premiums on her long term care policy.
Does my policy qualify?
If you are interested in selling your policy, please call us at 1.800.COVENTRY to complete the Life Settlement Qualifier. We are available to assist you.