877.227.4484
How to Sell Your Life Insurance Policy for $145,200 Instead of $0!
Posted: July 01, 2022 by John Welcom
John purchased a 10-Year Level Term Policy at age 59 to provide his wife with financial security. Ten years later, John and his wife were faced with the decision to convert the policy into permanent coverage at a cost of $35,825.00 per year or pay the annual renewal rates, neither of which was financially feasible. Since the policy served its original purpose and maintaining coverage was not an option, the couple was prepared to let the policy expire. Thankfully, John's life insurance agent suggested he explore the life settlement option rather than letting the policy lapse.
IS YOUR CLIENT’S TERM LIFE INSURANCE POLICY ABOUT TO EXPIRE?
John purchased a 10-Year Level Term Policy at age 59 to provide his wife with financial security. Ten years later, John and his wife were faced with the decision to convert the policy into permanent coverage at a cost of $35,825.00 per year or pay the annual renewal rates, neither of which was financially feasible. Since the policy served its original purpose and maintaining coverage was not an option, the couple was prepared to let the policy expire. Thankfully, John's life insurance agent suggested he explore the life settlement option rather than letting the policy lapse.
|
Policy's Insured |
Male | Age 68 |
|
Health Status |
Poor |
|
Policy Type |
Term Life |
|
Face Amount |
$1,500,000 |
|
Annual Premium |
$35,825 |
|
Surrender Value |
$0 |
Life Settlement Payout.... $145,200
For more information, please visit www.welcomefunds.com.
Click here to download: Suitability of Life Settlements
Recent Blogs
The Social Security Fund Shortfall: Reimagining Your Financial Security (Pt. 2)
Posted: July 15, 2024 by John Welcom
We encourage seniors and their financial advisors to think differently about Social Security and the country's retirement fund. The message is the following: don't panic about losing bene...
Finding Cash Flow from Passive Income Sources
Posted: July 01, 2024 by John Welcom
Beyond traditional income sources, there's a hidden asset you might be overlooking: your life insurance policy. If your policy is no longer needed or the premiums have become a burden, a life settlement could turn it into a significant cash infusion,...
How You Can Benefit from Market Competition When Buying AND Selling Your Life Insurance Policy
Posted: June 17, 2024 by John Welcom
Most of us know from experience that competition in the marketplace tends to be the key factor for consumers to get the best value on a purchase, whether it’s a new dishwasher or a new car...
