Alternatives to Cash Surrender Value of Life Insurance

Wondering if there’s a better way than receiving the cash surrender value of life insurance

You’re not alone. We hear this question a lot and the answer is yes, if you qualify, there is a much better outcome than cash surrender. Not everybody will qualify, so you need to do your homework and you’ve picked the perfect place to do just that. So read on…

There is a much better option that is gaining popularity: Life Settlements

What’s a life settlement? Simple. It’s an upfront lump sum payout that is higher than the cash surrender value of your insurance policy. It’s less than the face value of the policy (of course) but it’s often a step above cash surrender and two giant leaps better than lapsing and garnering no benefit at all for yourself or those you choose to protect.

You should know that Life Settlements are offered by licensed third-party Settlement Providers. Rules and regulations governing life settlements vary from state to state so the best we can do here is give you a general picture. The details will depend on several factors.

Who Qualifies

While we can give you a general idea about qualifying, the final answer will depend on the details about the type and value of your policy, your health and basic questions about you. The best way to find out whether your specific circumstances make you eligible is to go through our mrefinance.com/free-life-settlement-calculator or have a conversation with one of our specialists.

Think about it, the average person who opts for a Life Settlement is 75 but you may certainly qualify if you’re younger depending on your health and the value of your policy. Take a couple minutes and go through the estimate calculator, you may be pleasantly surprised to find out what the value of your life insurance policy could be worth. We’ve made it easy to answer just one question at a time.

Viatical settlements are the highest paying settlements and they are reserved for those with terminal or chronic (think more serious) medical conditions. If you find yourself in this situation, upfront proceeds from your life insurance policy can be a true ally in making quality of life improvements (like paying for medical treatment, complementary treatment, enhanced care or anything else you need) now. And, frankly, at a time like this, now matters. A lot.

When considering the cash surrender value of life insurance, it’s important to take a breath and do your homework. That’s not the easiest thing to do when financial and/or medical pressure mounts. Don’t do anything and your policy could lapse. With a little research and outreach, you may be able to do better than cash surrender to the insurance company. It’s good to know you have options and a Life Settlement could be your best choice.