What is a Life Settlement
A life settlement refers to the legal transaction between the life insurance policyholder and a third-party buyer known as a Settlement Provider for an upfront payment that can bring you and your loved ones a new sense of financial freedom. Life settlement cash payouts are typically higher than your policy’s cash surrender value but less than the total death benefit of the policy. Some of the reasons why people choose a life settlement include; unaffordable premiums, medical bills, supplementing retirement, emergencies, or if they no longer need the policy for their dependents or other personal reasons. A life settlement is usually a better alternative to lapsing or the surrender of a life insurance policy.
How Do I Sell My Life Insurance Policy
Selling your life insurance policy has never been easier, thanks to the specialists at MRE Finance. We have years of experience helping policyholders make the most of their life insurance policies, and we are happy to help you as well. The first step to take is to get a free and easy estimate based on your details. Next, one of our specialists will examine the value of your policy. Finally, you will receive a cash offer, and all you need to do is accept. It’s that simple!
What factors make me eligible
The best way of finding out whether you are eligible is to speak with a life settlement specialist. They will assess your age, health, policy size, and policy type. Eligibility is usually best for policyholders who are at least 70 years of age or for individuals who are chronically or terminally ill, have a sizable policy value, and have either universal, whole, or convertible life policies.
Many life insurance policyholders benefit from selling their policy, and you might be one of them. Our team is dedicated to helping you make the most of your policy. Call today and speak with an MRE Finance life settlement specialist to find out the value of your policy and how we can help you actualize your dreams of living life to the fullest and paying off debts.