Seniors who are looking to save often do so my downsizing their homes and lives. Less things, less money. However, there are other areas in your life to consider “downsizing” when looking to save: your life settlement policy!
Many seniors simply don’t know that their life insurance can be sold or appraised like any other asset. In doing so, policy owners work with buyer’s and seller’s reps to make the transaction with both parties’ best interest. That way, the owner will reap huge benefits of the policy rather than just throwing it away after paying premiums for 20, 30 or 40 years. The correct appraisal can mean large payouts — sometimes six or seven figures worth– as opposed to the small pay out from forfeiting it back to the carrier.
Be sure to review your exit strategies carefully with a licensed professional to ensure you are taking the best form of action. Learn more about your options for “downsizing” and savings at genesislifesettlements.com or email us directly to talk one-on-one with a Genesis advisor.