Perhaps you are starting to think about retirement and are needing some extra funds to replace the monthly income you have been accustomed to for years. Or maybe your insurance policy is no longer affordable and you need to get it off your hands. While you may be confused and worried in your specific situation, there is an option for you — life insurance settlement.

Did you know you can sell a life insurance policy? Yes, this is true. This is an option for you if your monthly insurance premiums are no longer affordable for you, you are wanting to fund your retirement plans, or you’re simply looking to switch to a different insurance policy. Whatever the case is, selling an insurance policy could be the right decision for you.

Here at Global Life Settlements, we are committed to helping our clients access their monetary assets. Once your policy qualifies for insurance settlement, we’ll take it into the secondary market. It is here that investors will bid on the policy, and if and when you — as the policyholder — accept the offer, the policy will be sold. You will then receive a lump sum of cash as the life settlement. Sounds pretty simple, right?

Before we can help you with selling a life insurance policy, you need to find out if you qualify. There are a few qualifications that need to be met in order for you to be eligible for a life settlement. Continue reading to find out what these are, and be sure to contact us at Global Life Settlements for more information.

First, you’ll need to know if your life insurance policy holds value that is marketable to investors. The value and attractiveness of a policy depends on a few different aspects, including your health circumstances and the policy terms.

  • If your health has changed since your life insurance policy was issued, your policy holds value.
  • If the policy was issued as a standard or preferred policy, it also holds value.
  • If the policy has low premiums and payments, the insurance policy holds value.
  • If the policy matures at age 100, or later, it holds value.
  • If the policy has a low cash value unencumbered by loans, it also holds value.

Read the following list. If any of these apply to you, you may qualify for a life settlement:

  • You, as the policyholder, are age 65, or older.
  • Your life insurance policy has a face value over $100,000.
  • You have poor health with more than one physical impairment.
  • Your life expectancy is less than 15 years.
  • Your policy is Universal Life, Term Life, or 2nd to Die.

The market value of your life insurance policy depends on the circumstances listed above. If you are still confused about whether you qualify for insurance settlements or not, or have any further questions about your unique situation, do not hesitate to contact us. We are here to help you as you make this important decision about life settlements. Get in touch today.