A newly launched report by Q Life Settlements explains that life settlements can be an important financial tool for seniors who have a life insurance policy that they no longer need or want.
Are you a senior who wants to live the same lifestyle you had before retirement? If you have a life insurance policy, you could have a lump sum cash payment in your hand that can help you meet that goal.
You are likely to live longer than generations before you. As a result, your retirement strategies need to differ from the way that earlier generations planned for their golden years. This new report by Q Life Settlements explains that life settlements may be a better financial move for you than holding onto and paying expensive premiums for life insurance policies.
Visit https://qlifesettlements.com/life-settlements-guide to learn more.
This new report about life settlements is important to seniors like you who may no longer need or want their life insurance policies or who can no longer afford the premiums that have increased over the years. Or maybe you want funds for other important purposes, including medical expenses, paying off debt, or investment opportunities.
According to a study in 2018 by investment management firm Conning, $200 billion worth of life insurance will expire or be relinquished every year through 2027. Many of those life insurance policies could have qualified for a life settlement and put money in the policy owner’s pocket.
According to a report from Wharton School of Business, nearly 88% of all universal life insurance policies are lapsed or relinquished without paying a death benefit. Those policy owners could have benefited from life settlements.
You might be unaware of life settlements and their benefits. A life settlement is the legal sale of an in-force life insurance policy to a third party for more than the policy’s cash surrender value but less than its net death benefit.
This report explains that selling an insurance policy can eliminate the financial burden of premium payments and result in immediate cash in hand for a higher quality of life, especially if you are a senior on a fixed income.
Life settlements are a safe option for you if you are aged 70+ and have a life insurance policy of $100,000 or more. Life settlement companies must be licensed, must use approved forms, and follow state regulations.
According to ThinkAdvisor, 90% of Americans live in states that have laws to protect seniors when selling their life insurance policies. The transaction takes place through an escrow account so that both seller and buyer are confident that the funds are safe.
Although life insurance remains important in many households, a life settlement can be a better option for you.
Does getting a life settlement in exchange for your life insurance policy sound like a good move to you? If your answer is yes,https://qlifesettlements.com/quote has more information for you.