3 Reasons To Sell Your Life Insurance

There are 3 main reasons that policyholders choose to sell their life insurance. The sale is done through a life settlement where the buyer assumes ownership of the policy and the seller receives a cash payout. The buyer takes responsibility for paying premiums and receives the death benefits when the seller passes.

  1. When a person starts living off his or her retirement fund, payments that used to be easy can become a challenge. Without a steady income, premiums may simply become unaffordable.
  2. Large unexpected expenses may come up, like medical bills. Selling a policy can provide immediate financial relief.
  3. Once a person’s children are of adult age and financially independent, the policyholder may not feel it necessary to keep his or her life insurance.

There are various factors that determine the policy’s sale price; policy size, the age and life expectancy of the policyholder, and the cost of premiums. Generally; however, the seller receives about 20%-25% of the policy’s benefit amount.

For many policyowners, education is the key to making decisions that will maximize their assets and provide for their financial goals. To learn more about life settlements and how to offer this valuable option to your clients, visit genesislifesettlements.com or email us directly to talk one-on-one with a Genesis advisor.