Cash Surrender Value of Life Insurance

The cash surrender value of a life insurance policy is the amount of money your insurance carrier will pay out in the event you submit a request to surrender and cancel your contract prior to the death of the insured or the maturity date of the life insurance policy. Permanent life insurance products such as Universal Life and Whole Life (not Term Life) have a cash savings account component where any value not used to cover cost of insurance charges will accumulate and accrue interest and thus will have a cash surrender value accessible to a policy owner.…

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What is a Retained Benefit Life Settlement?

You likely purchased a life insurance policy to protect or benefit family members. Now you may be facing increasing premiums while at the same time having to manage your retirement. All too often many seniors lapse or surrender their life insurance as their needs or financial situation changes. Many do not even know all their options after sinking years of premium payments into their policies. For seniors who may want or need to keep their coverage, there is the Retained Benefit Settlement option that can maximize the current fair value of their policies and provide a lasting benefit.…

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Sell Your Term Life Insurance Policy

Since term life insurance does not have a cash value that can be surrendered many policy owners simply let their policies lapse when the coverage becomes too expensive, or it is no longer needed. Selling your term policy in a life settlement transaction can unlock value that would otherwise disappear by letting your policy lapse without learning the market value you might be leaving behind. Most buyers of life insurance in the secondary market only purchase permanent insurance policies such as universal life. However, in many instances owners of term life insurance are still able to sell their…

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