A life insurance settlement can be valuable asset in times when seniors are concerned about outliving their income.
The accumulated wealth of many seniors has certainly taken a hit in recent years. Many seniors that once thought the assets they had would maintain them through their retirement years now have concerns about their money running out.
Seniors are now looking for alternative ways to generate cash, and one resource may be their life insurance policies. If a life insurance policy still requires premium to maintain, then a life insurance settlement could mean taking a liability and turning it into an asset that provides money you cannot outlive.
In a recent case, an 83 year old man received a cash benefit from the life insurance settlement of over $400,000. The cash was put into an annuity that paid the client money every month until death. This added piece of mind to the client, since he knew the payment would always be there.
Most people do not know that their policies have a value above what the insurance company is willing to give in cash surrender value. Speaking with a qualified professional that can determine if a policy could, or should, be sold is recommended.
Your policy could have value that could ensure a safe, secure retirement. Finding the value of your policy today could add to your retirement dollars tomorrow. Find the value of your policy today by visiting our online valuation tool LIVEpdq.