As life introduces new changes, it can be comforting to know that cash is available from the sale of a life insurance policy. Life settlements offer a way for policyholders to sell their unwanted life insurance plans for a surprisingly large amount of money. This type of transaction, however, offers numerous benefits for both the policyholder and the insurance or financial professional.
There are many reasons why a senior citizen may need money immediately. Instead of tapping into other assets, an unwanted or underperforming life insurance plan can be turned into instant cash. One of the best benefits of senior life settlements insurance is that the policy holder is free to spend the money however he or she wishes. Some policy holders can choose to purchase a new life insurance plan that is better than the current one. Others may decide to allocate inheritance money to family and friends. Or, other policyholders may decide to remove a policy from an estate because of a downgrade in size or tax liability. Perhaps the best thing that comes with a life settlement is that the policyholder receives a cash amount that is more than the surrender cash value of the policy.
While it may seem like the policyholder gets the better end of the bargain, life insurance settlements offer numerous benefits for the insurance or financial professional as well. For one, they can produce new capital for their clients. In many instances, clients use the funds to purchase a new life insurance plan. Another benefit is adding value to your existing services. When insurance companies or financial institutions offer this type of transaction for their clients, it is considered as an extra bonus that is not typically offered at other companies. Finally, companies can offer life settlements investment opportunities as a way to reduce lapse rates.
There are many reasons why a senior citizen may need money immediately. Instead of tapping into other assets, an unwanted or underperforming life insurance plan can be turned into instant cash. One of the best benefits of senior life settlements insurance is that the policy holder is free to spend the money however he or she wishes. Some policy holders can choose to purchase a new life insurance plan that is better than the current one. Others may decide to allocate inheritance money to family and friends. Or, other policyholders may decide to remove a policy from an estate because of a downgrade in size or tax liability. Perhaps the best thing that comes with a life settlement is that the policyholder receives a cash amount that is more than the surrender cash value of the policy.
While it may seem like the policyholder gets the better end of the bargain, life insurance settlements offer numerous benefits for the insurance or financial professional as well. For one, they can produce new capital for their clients. In many instances, clients use the funds to purchase a new life insurance plan. Another benefit is adding value to your existing services. When insurance companies or financial institutions offer this type of transaction for their clients, it is considered as an extra bonus that is not typically offered at other companies. Finally, companies can offer life settlements investment opportunities as a way to reduce lapse rates.
