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Life Settlements


A life settlement is the sale of an existing life insurance policy to a third party for more than the cash surrender value, but less than its net death benefit. There are a number of reasons that a policy owner may choose to sell his or her life insurance policy. The policy owner may no longer need or want his or her policy, he or she may wish to purchase a different kind of life insurance policy, or premium payments may no longer be affordable.

For years policy owners wanting to exit an unneeded life insurance policy could only surrender it back to the issuing life insurance company or simply allow it to lapse. Did you know that you have an alternative – a life settlement?

With a life settlement, you can:
• Receive more for a policy you can no longer afford than if you surrender it back to the insurance company.
• Maintain a portion of your life insurance coverage and eliminate future premium obligations.

Did you know that policy owners who choose a life settlement typically receive an average of more than four times what they would receive from surrendering their policy back to the life insurance company?