As an insurance agent, you may be wondering what settlement options are available for your clients. Since almost 88 percent of all insurance policies never pay out, due to lapsing or surrendering, it’s important to know what financial options are available for your clients and their policies.
Your client(s) may be tired of paying steep monthly premiums for their policy, and it makes sense why they would want to access their savings now. While it’s unfortunate that the majority of policies never pay out, there are other options available for unwanted insurance policies. In this blog post, we’re going to be covering the insurance settlement options that are available to your clients through Global Life Settlements. Be sure to read through and find further information on our site. If you have any questions regarding the settlement process or are interested in becoming an agent with us, visit here.
The Benefits Of Opting For A Life Insurance Settlement
When one of your client’s life insurance policies gets sold in the secondary market to an investor, they will receive an immediate lump sum of cash in exchange. Your client will benefit financially this way. By selling a policy, they’ll have access to funds that can help pay for long-term expenses, like assisted senior living or medical bills that have piled up over the years. Not only are they getting an unwanted life insurance policy out of their hands, but they will experience a financial stress relief, giving them the resources to enjoy their retirement years even more.
Even though selling an insurance policy implies that your client will be no longer be protected, this isn’t the case. In fact, when your client opts for a life insurance settlement, they will continue to be protected, and they’ll continue to hold onto a portion of their policy.
No More Monthly Payments
If your client is feeling bogged down by monthly premium payments, knowing that they have another option in which they’ll financially benefit will come as a great relief. When they choose to sell their policy to an investor in the secondary market, they’ll say goodbye to those monthly payments. Further, they’ll will receive a stable income, allowing for the opportunity to benefit for the rest of their lives.
Everyone Benefits From Settlements
It’s important to note that while selling a life insurance policy can directly and positively impact your clients, you as an insurance agent with Global Life Settlements will also benefit. Not only that, but everyone involved in the settlement process will. As an agent, you’ll experience the opportunity to earn a higher commission, and you’ll continue to see your residual income. Those time-consuming administrative duties will be taken care of by us. Yes, you read that right. The investors, who purchase your clients’ policies, will also benefit — they’ll take over the policy, investing it how they wish. And of course, your clients will experience a financial benefit, giving them freedom to enjoy their retirement years.
If you’re interested in learning more about how your clients will benefit from selling their life insurance policy, or if you’re interested in joining our team of agents here at Global Life Settlements, do not hesitate to reach out to us. Give us a call today.