Term life insurance that is convertible to universal or whole life continues to be a sought-after product on the life settlement market. As your senior clients’ term life policies approach the end of their conversion periods, check in with them to determine if their future life insurance needs have decreased. A life settlement could uncover found money.
Most people purchase term life policies to satisfy business needs or to replace the income provided by a wage earner. However, term insurance with a conversion rider can be turned into an asset before the policy lapses. You can work with a life settlement broker to convert the policy and perform a life settlement that will provide your senior clients with a payout and no out-of-pocket expenses.
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.