Don’t Lapse Or Surrender Your Policy–There’s A Better Option

According to a joint study by the Society of Actuaries and LIMRA, approximately $900 million of face value of life insurance is lapsed or surrendered each year. That is roughly 4.5% of the insurance that is in force.

If you or your client has a life insurance policy that is no longer needed—or if premiums have become cumbersome—you may be looking at a lapse or surrender of the policy. However, you can get more money for that policy by selling it as a life settlement.

A life settlement is the sale of an existing life insurance policy to an institutional investor. The investor takes over all the premium payments and the owner receives a cash payment that is higher than the current cash surrender value, but lower than the face amount of the policy. A life settlement can provide immediate cash to pay medical bills, reduce debt, fund a retirement plan, pay for long-term care or even purchase new insurance coverage.

To learn more about life settlements and how to offer this valuable option to your clients, visit or email us directly to talk one-on-one with a Genesis advisor.