Valuing and Selling Your Life Insurance Policy is Easy

LightHouse Life makes it easy for policyholders to sell their life insurance policies.

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The Benefits of Selling Your Life Insurance

For most life insurance policyowners, there comes a time when they are faced with terminating the policies to which they have paid premiums on for years. According to industry data, almost 9 out of 10 times, life insurance policyowners will eventually lapse or surrender their life insurance policy, receiving little or nothing in return, because the premiums become too expensive or because the policy no longer meets their needs.

Life settlements are a valuable alternative to the lapse or surrender of a life insurance policy and can provide significant resources immediately to help seniors and their families meet income, health care, and long-term care needs in retirement.

Many Americans underestimate the amount of money needed to live comfortably in retirement. The costs of living, including housing, energy and health care are rising and it’s simply more expensive to live in retirement.
Premiums on policies for older Americans often increase significantly, insurance companies raise COI (cost of insurance) rates on policies, or a policy’s cash surrender value has been depleted and the premiums due are too great to maintain the policy any longer.
There may be cases in which a life insurance policy simply isn’t needed. Seniors may have other successful retirement planning in place or there may no longer be beneficiaries for a policy, eliminating the need to keep the policy.

Why Sell My Life Insurance Policy?

Taking out a life insurance policy is one of the most common ways Americans protect and provide for their families. However, just 10 percent of life insurance policies issued actually result in benefits being paid. Life settlements help ensure the value of life insurance policies get passed to loved ones.

How LightHouse Life Works

LightHouse Life offers fast and easy appraisals of life insurance policies for qualifying policyowners. Dedicated Account Specialists guide policyowners throughout the entire life settlement process, and we send appraisals to purchase life insurance policies within days, and complete transactions within weeks.

1 Health and Policy Evaluation

To evaluate a life insurance policy, policyowners participate in a confidential telephone interview with LightHouse Life about the details of the policy and the health of the insured person under the policy. We also obtain the policy’s in-force illustration of future premiums. This is the information that is needed to evaluate the life insurance policy’s value.

See if You’re Eligible

2 Policy Appraisal and Offer to Purchase

Within a few days after receiving the health and policy information, LightHouse Life provides an appraisal of the policy. If qualified, we offer to purchase the policy for its market value.

About Life Settlement Valuation

3 Completing the Life Settlement

If an offer is accepted, the policyowner and LightHouse complete the transaction. LightHouse Life sends state insurance department-approved documents for the policyowner and insured to complete. Once the completed documents are returned to us, LightHouse Life will place all proceeds into an independent escrow account (managed by a national bank). The proceeds are released to the policyowner once the insurance company acknowledges the change of ownership.

About the Life Settlement Process

LightHouse Life: A Leader in the Life Settlement Industry

LightHouse Life advocates for seniors to access the value of their unwanted, unneeded and unaffordable life insurance policies so they can better meet their retirement, health care and long-term care needs.

Our mission is to provide greater value to policyowners, operating with the highest standards of professionalism and transparency to policyowners.

LightHouse Life is proud to support the Alliance for Senior Health Care Financing, and HR7302, which would permit seniors to roll over some or all of the proceeds from a life settlement tax-free into investment accounts, which could then be used to cover the costs of qualified medical expenses.

Life Settlement Resources for Financial Professionals

LightHouse Life works with insurance agents, financial advisors, financial planners, accountants, and other financial professionals and their firms to help policyowners make the best-informed decision regarding the fate of their life insurance policies.

Financial professionals may refer qualified policyowners to LightHouse Life to obtain a free policy appraisal and, if in the best interest of the policyowner, a fast and easy life settlement transaction.

Financial professionals and firms interested in learning more should visit the LightHouse Life Settlement Advisor Program.