Have you ever considered completing the transaction known as a life settlement? For many seniors, a life settlement may be the solution if a life insurance policy is currently unwanted or unneeded. A life settlement will allow a senior citizen to sell their life insurance policy, and no longer worry about the high premiums associated with it. The most sought after benefit is the large lump sum that many investors are willing to pay for these policies.
Many times, life settlement investors will want to see that you have a life insurance policy in excess of $50,000. Additionally, whether you have term life, whole life, or universal life; does make a difference, as different investors prefer different policies. Keeping this in mind, it would be wise to speak to a licensed life settlement broker, who has access to the largest amount of investors, banks, and hedge funds. You may be wondering, "What qualifications must I meet to complete a life insurance settlement?" The answer is simple, any! Some sell their life insurance policy because they under estimated the cost of retirement, want to go on a dream vacation, put monies into a college fund, or just because they would prefer to get a lump sum cash.
With so much turbulence in this economy, it may be scary leaving yourself vulnerable by not having a sufficient monthly cash flow, nor a diversified portfolio. Liquidating a life insurance policy, in some instances, can help the aforementioned problems. For more information on life settlements, click here.
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