Due to greater regulations and consumer awareness, the life settlement market continues to grow. Seniors are opting for these kinds of deals for many reasons including relief from costly premiums, liquidating assets as a means to pay for long-term health care, retirement planning, generating substantial cash for children and grandchildren, they simply no longer want or need the policy, and other various reasons. Instead of simply accepting what the insurer offers for the cash surrender value of your policy, explore the many benefits in a life settlement.
According to the London Business School, “We find that policy owners selling their policies collectively, receive more than four times the amount they would have received if they surrendered their policies to their respective life insurance companies for it’s cash value.”
Moreover, the Life Insurance Settlement Association (L.I.S.A.) stated that policy owners usually receive about 4 times more than the surrender value of the policy.
Forbes August 2016 stated that the federal government announced that premiums for nearly all of its existing long-term health care insurance policies would increase—by an average of 83 percent. In June, the Boston globe reported that the John Hancock Company were sending notices to some of its older policyholders informing them their premiums would be going up immediately— by about 20 percent.
As a result, an increasing number of seniors are using the cash they receive from their life settlements to pay for their long-term health care premiums.
You’ve worked hard and sacrificed so much along the way. So, now is the perfect time to start taking those dream trips that add richness and joy to life. Whether your dream travel is local or global, many people choose a life settlement to fund travel plans and see the world.
Many seniors are living less robustly than they would like. An article in Senior Livingstates that “Nearly 40 percent of retirees have a problem with their level of debt.” Many people are learning that a life settlement offers the opportunity to pay off this debt.
According to SilverCross.com, seniors spend nearly one-fifth of their income on dining out and entertainment. Life Settlements offer seniors funds so they can keep enjoying the lifestyle they’ve worked so long and hard to acquire.
The National Center for Policy Analysis reports that seniors aged 75+, hobbies and pets account for a growing percentage of monthly expenses – to the tune of nearly six percent annually since 1990.
If a life settlement sounds right for you,