How to Sell Your Life Insurance Policy for $54,000 Instead of $20,000!
Posted: February 19, 2021 by John Welcom
![Life Settlement Case Study | Would You Rather $54,000 or $20,000?](/upload/life-settlement-news/WelcomeFunds_Life_Settlement_CaseStudy_Margie_MainImage.jpg)
Margie purchased a 20-year level, convertible Term life insurance policy at age 48 to provide her daughter with financial security. Twenty years later, the term premium was set to increase dramatically and Margie's family could not afford to maintain the term life policy.
The Power of Competition Results in a 170% Increase
Margie purchased a 20-year level, convertible Term life insurance policy at age 48 to provide her daughter with financial security. Twenty years later, the term premium was set to increase dramatically and Margie's family could not afford to maintain the term life policy. Margie decided to explore a life settlement after seeing a TV commercial. She contacted one buyer directly, called a life settlement provider, but felt the $20,000 offer she received was low given her deteriorating health. Thankfully, Margie reached out to Welcome Funds to obtain a second opinion. Welcome Funds conducted a transparent auction securing a total of 16 offers from multiple life settlement providers (buyers). In the end, Margie was paid $54,000, a 170% increase compared to the offer she received initially and was able to assist her daughter with a down payment on a new house.
Policy's Insured |
Female | Age 68 |
Health Status |
Fair |
Policy Type |
Term Life |
Face Amount |
$500,000 |
Annual Premium |
$23,880 |
Surrender Value |
$0 |
Life Settlement Payout.... $54,000
Recent Blogs
![Reimagining Your Financial Security](/upload/life-settlement-news/Welcome_Funds_ Financial-Security_TN.png)
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](/upload/life-settlement-news/Welcome_Funds_ Income_Sources_for_Retiree_ClientTN.jpg)
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,...
![Selling Your Life Insurance Policy](/upload/life-settlement-news/WFI_Blog_TN_Selling_Your_Life_Insurance_Policy.jpg)
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...