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Policy has outlived its use -The insured has outlived the beneficiary and there is no longer a need for the policy. |
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Policy does not fit into the estate - The size of your estate has changed resulting in too much life insurance to cover the estate taxes. |
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Premiums are not affordable - Premiums have become unaffordable. Another reason is because a UL policy did not meet expectations of having no premium payments as initially projected. |
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Equal coverage be obtained for less expensive premiums - The population is living longer which means many seniors qualify for the replacement of their current policy with a policy that carries lower premiums but equal coverage. |
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Financial or Health status has changed – You have lost money in the stock market or your health has changed considerably. Regardless of the reason you need additional funds to offset the financial loss or accommodate costs of medical expenses. |
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Funds can be better invested - The money currently being used for the premiums can be better invested into another financial product. |
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More money that Cash Surrender Value - More money can be obtained by taking part in a life settlement than by taking the cash surrender value of the policy. Remember there are no surcharges or additional fees from insurance companies for taking part in a life settlement as there are with taking your cash surrender value. |
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Key executive retires - In many cases there is COLI (Corporate owned life insurance) in place because of a business loan or for protection of a company. Now when this person retires or the loan is paid off, the coverage is no longer needed. To maximize the value of this policy, providing a life settlement will produce a greater return for the company and may fund part or all of a retirement package for that key executive. |
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Money is need for any reason – Some seniors may just want some extra money for a vacation or to make a luxury purchase. |
