The benefits of selling your life insurance.
Most people don’t know that they can sell their current life insurance policy for cash. Life settlements are an option to surrendering or lapsing life insurance policies back to the insurance company.
Think of it this way: Your life insurance policy is your property, like your home or your car, and you can sell it. When you took out that policy, you created a piece of property. When you paid premiums, year after year, you gave that property value. And if you aren’t going to keep that property, you can sell it – for cash.
Life settlements help seniors by paying a market value return for the purchase of their policies. Seniors use the money from the sale of their policies to pay for things like medical care, long-term care and retirement living.
Life settlements are safe and secure for seniors because they are highly regulated across the U.S. and offer exceptional consumer protections. The National Association of Insurance Commissioners recommends life settlements as a way to pay for long-term care.