Know Your Life Insurance Options

Life insurance policyholders are consumers who have the right to know the product they own and the options they have regarding that product, but often insurance companies use such confusing language that their clients feel lost. For seniors, there are really three simple options for a life insurance policy, and the right path could be different for each individual. This whitepaper delves into the advantages and disadvantages of those three options and acts as a guide to a senior who might want to get more out of an insurance policy.

The insights within this paper include:

• If you own life insurance, you can either continue to pay premiums, let the policy lapse
  or sell the policy through a life settlement.
• Many seniors unintentionally lapse their policy and leave money on the table that could
  be used to help cover retirement expenses. The payoff from a lapsed policy only
  amounts to pennies on the dollar, when in fact a policy could be worth much more.
• When a policy is eligible for a life settlement, its sale can result in a financial windfall for
  a policyholder. By thoroughly weighing the options of settlement versus surrender, a
  retiree can make the most of a life insurance policy that has become a liability.

Lapsing a policy isn’t the only choice for seniors, and often the most profitable choice is the one they know the least about—a life settlement. For a better understanding of your life insurance options, fill out the form for access to the entire article.