Individuals

If you, as an individual, decide that you no longer want your policy or can no longer afford to pay the premiums on your policy, your options are no longer just surrendering or lapsing the policy for little or no value. The vibrant secondary market for life insurance now provides you with the option of cashing in your policy before you die, enabling you to enjoy the proceeds of the sale while you’re still alive.

A “Life Settlement” is when a policy owner sells a life insurance policy to an institutional purchaser, for a value greater than the cash surrender value.

When should a Life Settlement be considered?

You no longer want your policy, and are considering surrendering your policy for the cash surrender value, or allowing your policy to lapse
Selling your policy may provide money to purchase annuities, a better life insurance product, long-term care, or provide supplemental retirement income
The policy may have been purchased during a time of higher interest rates and lower premium assumptions, and is not performing as expected
You may need cash to reduce debt or medical bills
You may be going through a divorce and the policy may be subject to equitable distribution
You may have outlived your beneficiary under the policy, and the coverage is no longer needed

What can you do with the cash you receive in a life settlement of your policy?

Fund a new paid-up life insurance policy
Pay for medical care
Pay for assisted living or a nursing home
Fund your grandchildren's education
Reduce your debt
Buy long-term care insurance
Fund your retirement
Take a vacation
Purchase other investments
Live out your dreams!

It's your money, spend it however you choose!

A photo of a retired gentleman standing by his plane