Life Settlement

What is a Life Settlement?

More than 500,000 seniors cancel their life insurance policies every year. Some feel there is no longer a need, that its purpose has been served. Others no longer want it, but more simply cannot afford it anymore. When a term policy is coming to the end of its term, the increased rate to renew is sometimes prohibitive, if a renewal is even available.

After paying tens of thousands of dollars in premiums over a lifetime, why walk away with nothing, or very little? A Life Settlement unlocks the hidden value in a life insurance policy by selling it to a third party for more than its cash surrender value. It even works well with term insurance.

According to a 2010 study, U.S. policy owners received $5.62 billion more than the cash surrender values from Life Settlements from 2006-2009. In 2010 the U.S. Government Accountability Office (GAO) and the U.S. Securities and exchange Commission came out and said Life Settlements are a valuable alternative to the lapse or surrender of life insurance policies.

A Life Settlement isn’t for everybody and not everybody can qualify, but if you’re going to surrender or lapse your policy, doesn’t it make sense to at least see what your policy is worth?  Selman Insurance Services represents 30+ third parties to assure you of the best possible offer.