Life Settlement Myths
Myth #1: I'd be better off taking the cash surrender value.
Wrong! Life settlements provide 300% of the cash surrender value on average Most people don't realize that there are options to giving up a
life insurance policy or getting only the life insurance cash surrender value and 85% of all life insurance policies are never used., and there is no obligation or expense required on your part to have your policy evaluated.
Inquire now, and we'll be happy to begin the evaluation process.
Myth #2: Life settlements are only for the terminally ill.
Not at all. Life settlements are actually only for those individuals who are
not terminally ill. There is a separate type of transaction, called a viatical settlement, that is designed for the terminally ill. Life settlements are generally available to anyone over 65 years of age with a whole life, universal, or convertible term life insurance policy. Life settlement amounts increase with age.
Myth #3: Life settlements are only for the wealthy.
Not true. Life settlements are generally available to anyone with a policy over $50,000, regardless of income and are gaining public awareness and popularity across income levels.
Myth #4: Only whole life policies are eligible.
No. Life settlements are available for a wide variety of policies. The most common settlement classes are whole life, universal life, and convertible term, but settlements are also possible for some of the more specialized types of life insurance such as survivorship, group and key person.
