Don't be one of the 500,000 seniors who let their life insurance policy lapse each year and walk away with nothing.
If your policy no longer serves a purpose — and has become more of a financial burden than a benefit — a life settlement may be your best option. Here's what the cash benefits look like and how the process works.
What Is a Life Settlement?
A life settlement is the sale of an existing life insurance policy to a licensed third-party buyer for more than its cash surrender value but less than its death benefit. The buyer takes over all future premium payments and receives the death benefit when you pass away. You receive a lump sum of cash right now.
Why You Should Consider Selling Your Policy
Life insurance needs change. If you're still paying premiums on a policy that no longer aligns with your financial goals — or that you simply can't afford — selling it is almost always more valuable than letting it lapse or surrendering it for its cash value. According to LISA, as many as 90% of seniors who let their policies lapse wished they had known about the life settlement option.
How You Can Use Your Settlement Money
There are no restrictions on how you use the proceeds. Common uses include:
- Covering medical expenses and long-term care costs
- Helping a family member or loved one in need
- Paying off a mortgage or reducing debt
- Funding a dream vacation or bucket-list experience
- Donating to charity
- Supplementing retirement income
- Renovating your home
Because it's your money, you decide what to do with it. Allan's job is to make sure you get the maximum amount the market will pay — and that you understand every step of the process before you commit to anything.
Call (714) 271-2223 or click below to find out if your policy qualifies.
Ready to find out what your policy is worth?
Allan Silverman has helped over 500 families sell their life insurance policies for far more than they expected. Get a free, no-obligation estimate today.
(714) 271-2223See If You Qualify →