With all the things that have been written about life settlements people really need to know the Life Settlements Pros & Cons. This way they can hopefully make a more educated decision when thinking about a life settlement
The Pros of life settlements include that they provide you with the opportunity to take an unwanted, unneeded or unaffordable insurance policy and get more cash then if you turned the into the insurance company. This cash can be used for anything from paying bills or living expenses, to going on vacation, or even helping to enhance your insurance coverage as part of your financial planning. There are also programs that will allow you to sell a portion of your coverage and retain a portion which might be the best of both worlds if you still need some life insurance and can’t qualify for new coverage.
The cons of life settlements are that they take life insurance coverage away from the original intended beneficiary and that they effect a persons overall insurance purchasing capacity since the buyer of the life settlement maintains the coverage. Also you have the issue someone else now owning your insurance policy. Even though the majority of the funders in the marketplace are institutions some people still don’t like the idea of third party. Another thing is that some insurance companies are making it more difficult to acquire new coverage if you have transacted a life settlement.
So while life settlements can be a good thing they are certainly not for everyone and anyone thinking about a life settlement should look at the Life Settlement Pros & Cons carefully.
To learn more about Life Settlements Pros & Cons as well as to help determine what the value of your existing insurance policy is click on the LIVEpdq link now.