Global Courant
With life insurance, seniors now have the option of receiving a payout greater than their cash surrender value. Life insurance companies have always had the advantage by offering a low cash payout for unwanted or unnecessary life insurance policies. However, now seniors use life insurance to receive a lump sum for their insurance policy.
A life insurance arrangement (also known as a senior life insurance arrangement or life insurance) is a financial transaction in which a senior citizen who owns an unnecessary or unwanted life insurance policy sells the policy to a third party, rather than surrendering it or allowing it to expire. back to the life insurance company. The seller immediately receives money for the policy from the buyer. The buyer becomes the new beneficiary of the policy on the maturity date and is responsible for all premium payments from the time of purchase until the death of the seller.
In order for seniors to get an estimate of the amount available to them, all they need to do is sign a waiver and provide policy information, no physical or medical visit is necessary. “The life settlement process is a very simple process,” says Grant Shellhammer of Life Processing Pro“Once
the necessary documents have been received we can provide an estimate of the settlement amount, there is never any obligation or cost for the client. “With life insurance policies being surrendered and maturing on a daily basis, it is important for consumers to understand how beneficial life termination can be.
There is no standard amount available through a life settlement and each individual case is different. The industry has seen anywhere from 2 to 10 times the surrender value of the case available through a lifetime settlement. Many seniors are not aware that there is potentially much more value in their policy.
The education and availability of life insurance can also be attributed to the agents and financial professionals. They have a duty to provide the best options and recommendations to their customers. Allowing a policy to lapse or surrender without checking whether a lifetime plan is available is not serving your customers properly. “We are happy to work with agents and financial professionals across the country to help them help their client with life arrangements,” said Grant Shellhammer.
You no longer have to settle for a cash payout; find out if life insurance can pay you more.
Life insurance, more than a cash surrender
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