Qualify To Sell A Life Insurance Policy
If any of the following situations apply to you or your life insurance policy, you could qualify for life settlement.
- You are age 70 years of age or older.
- You’re at any age where there are significant health problems.
- You have a life insurance policy with a face value of $100,000 or more.
- Your life insurance policy is past the contestability period (is more than two years old).
- You have a life insurance policy that is no longer wanted, needed, or affordable.
- You are the owner of a term policy that can be converted to a permanent policy.
Global Life Settlements shops around to a variety of different investor groups to ensure that you get the most money possible, just like EPC Wealth shops around to get you the best pricing on buying a life policy, only in reverse. EPC Wealth knows that the insured party must balance their risk versus benefits. Insurers and, on the other side, investors, will look for policies or people that meet some certain criteria to balance that risk. In order to bring balance, they offer life insurance policies at a discount rate and investors will pay more to get the policies necessary to bring this risk balance back to a state that benefits them.
See If You Qualify For Selling A Life Insurance Policy
The ability to adapt in response to changing life circumstances is a key when organizing your personal finances and, is probably what provided the initial impetus for you to buy that term life insurance policy in the first place. Years later, you might consider selling a life insurance policy in order to get rid of those steep monthly premiums, in exchange for a lump sum payment designed to alleviate worries about financial insolvency today rather than at some point in the future. To see if you qualify for selling a life insurance policy, consider the following.
Secondary Market Insurance Solutions
Selling your term life insurance policy, known as a secondary market insurance solution, is a solid way to gain a life insurance settlement that is available to help you in your time of need. Specifically, elderly Americans can benefit from the following:
- Reduction or elimination of monthly policy premiums
- Create financial security for retirement
- Fund long-term medical care
- Create short-term liquidity
Secondary Market Insurance Solutions for Businesses
For businesses and organizations, selling your policy on the secondary market for insurance can be a response to changing business situations such as bankruptcy, mergers, or acquisitions. Understanding the benefits of selling your life insurance policies will help you decide whether this is the ideal course of action for you, a loved one, or your business associates.
Who Qualifies For A Life Settlement?
Generally speaking, there are a number of conditions that readily apply themselves to changing life circumstances. Specifically, changing health concerns and the expense of long-term health care in contrast to the monetary value of your life insurance policy can make selling that life insurance policy more attractive.
If you are debating selling your life insurance policy due to changes in health status, there are a few things you should consider:
- The policy was issued as a standard or a preferred policy
- Policyholder had a change in health status after the date of policy issuance
- The policyholder has a median life expectancy of 15 years or less
While we seek out the best available cash value for you to sell your life insurance for, there are some factors that may affect the policy sales value:
- Low cash value policies unencumbered by loans
- Low premiums
- Policy matures at age 100 or later
To discover whether your life insurance policy is eligible to be sold for a lump-sum life settlement payment, reach out to our team of knowledgeable experts at Global Life Settlements to get more information that will help you determine the best course of action toward making your retirement years financially comfortable. We look forward to hearing from you soon!