Economist, May 17, 2003 "New Lease on Life: The Secondary Market in
Life-Insurance Policies is Good for Consumers"
Life
Insurance Policy Appraisal
Life Insurance coverage is a valuable tool providing peace of
mind and the financial resources needed upon the passing of a loved one.
However, when circumstances change, and a life insurance policy is no longer
needed, wanted or affordable, historically, seniors have allowed the policy to
lapse or be surrendered back to the insurance company for a pre determined
amount (the Cash Surrender Value, "CSV").
Seniors have another option: to sell the policy to a financial institution or a viatical life settlement company for larger cash
settlement. These are called
life insurance settlements. Once the policy is sold, the policy owner will no longer be required
to pay the on going premiums. The life settlements or qualified life settlements can amount to more money in your pocket
than the value you would have received if you surrendered the policy back to the life insurance carrier or allowed it to lapse.
This sale is also called a life settlement and it occurs when
viatical life settlement providers offer to purchase your policy.
If you are interested in finding out how much your policy could be sold for, begin the "insurance appraisal" now, click here.
A
life insurance policy appraisal only requires a few minutes and can be generated by answering some very basic questions
about your policy, age and health.
To begin your life insurance appraisal now click
here.
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Unfortunately, the majority of seniors are still unaware of
their option to sell their unwanted life insurance policies and most of the
financial professionals are generally uninformed regarding the life settlement
process. Further, insurance companies are not required to inform the policy
owner that selling their policy(s) could be a more financially beneficial
alternative to a surrender or lapse.
Insurance Appraisal is a site dedicated to informing the
public about their options regarding their unwanted, unneeded or
unaffordable life insurance policies. Our Insurance Appraisal software allows
seniors to discover the estimated value of their
current life insurance policy should they decide to move forward with a life
settlement. A life insurance appraisal only requires
a few minutes and can be generated by answering a few basic questions about
your policy, age and health. You will not be
required to enter personal information. To begin your life insurance appraisal now
click here.
"Recognizing Life Insurance's Value", Wall Street J., May 31, 2005
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Before the development of this secondary market for life insurance, the primary option for unwanted, unneeded or unaffordable
policies was to surrender the policy(s) back to the issuing insurance carrier or allow them to lapse. When a senior sells their
life insurance policy to a third party institution, it is called a life settlement. A life settlement is the transaction in which the owner
of an insurance policy sells the ownership and their beneficiary rights of their policy to a third party for lump sum payment.
When a policy is sold, it is because the sale proceeds far exceed the cash surrender value paid by the issuing insurance company. A life settlement can thereby ensure that the policy owner is in much better financial position than if they would have surrendered or allowed their policy to lapse. The seller is also no longer required to pay the on going life insurance premiums. The life settlement proceeds can then be used as you desire however some common uses are: to purchase more affordable life insurance coverage, paying off debt, property taxes, mortgages, purchasing long term care insurance, funding an annuity or for other retirement needs.
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So how much could you sell your policy for?
The amount that a policy owner can receive for their policy in
a life settlement is a combination of multiple variables. The first variable is
the age and health of the insured. The second is based on the performance of
the policy, meaning; will the policy's performance or ongoing premium costs
require the new owner to pay reasonable premiums or a higher than normal amount
to keep the policy in force. By spending just a few minutes, you can receive a
complimentary insurance appraisal report from this site (and print it). A life
insurance appraisal requires a few minutes and can be generated by answering a
few basic questions about your policy, age and health. You will not be required
to enter personal information.
Begin your life insurance appraisal now click
here.
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