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Life Insurance Settlements
Reasons for Pursuing a Life Insurance Settlement
Life insurance is purchased for many reasons; the recurring factor is the need for
personal or business protection. What happens if your needs change
and the reason you purchased the policy has disappeared? Here are some
examples of changing circumstances that could trigger the opportunity for a life
settlement transaction:
- Change in estate size
- Change in health condition
- Divorce/Bankruptcy/Retirement
- The need to exchange high annual premiums for monthly income
- Premiums no longer affordable
- Selling a business
- Surrendering a policy or one in danger of lapsing
- Needs funds for alternative investments
- A family trust has eliminated the need for life coverage
- Your children are grown and no longer require the protection
- You wish to use the money now for a vacation home or travel
- A need to pay for medical expenses or long-term care
Life insurance is a valuable financial-planning tool for many, but if the need for
life coverage no longer exists, why keep paying for the policy?
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