Exploring Your Options in 2024 If you’re holding a term life insurance policy, you might find yourself questioning whether you can sell it, especially if your financial situation has changed. Selling your term life insurance policy is indeed an option through a process known as a life settlement. This article aims to guide you through the nuances of selling your term life insurance, the conditions required, and how to navigate this financial decision wisely in 2024. Understanding Term Life Insurance Term life insurance is a straightforward insurance product designed to offer peace of mind over ..read more

As much as we’d like to think we are in total control, the truth is that life is unpredictable. When their circumstances change, many seniors consider selling all (or part) of their life insurance policy in exchange for a cash payout.    This is what’s called a life settlement, in which a policyholder sells their policy to a life settlement company. That company, in turn, takes over paying the policy’s remaining premiums and ultimately receives the policy’s death benefit. In exchange, the policyholder walks away with a one-time cash payout that’s worth between four and seven times as ..read more

If you’ve been thinking about selling a life insurance policy that no longer meets your needs, you’ve likely come across the idea of a life settlement before. In case the term is new to you, a life settlement is a transaction in which you can sell all (or part) of an unwanted or unneeded life insurance policy to a third party (known as a life settlement company). In many cases, this represents a win-win, since: Policyholders can recoup more value from their policy than they would if they were to simply cancel their policy or let it lapse—four to seven times as much, in fact.  Meanwhile ..read more

(3 minute read) The world of life insurance can be complex and intimidating, but understanding the basics is essential for anyone looking to secure their financial future. One common question that arises is whether it’s possible to sell a $50,000 term life insurance policy. The answer is yes, but there are several factors to consider before making this decision. What is Term Life Insurance? Term life insurance is a type of life insurance policy that provides coverage for a specific period, or “term.” If the policyholder dies within the term, the beneficiaries receive a death benefit. However ..read more

(3 minute read)   Depending on whether you’re an insurance agent or a life insurance policyholder “selling a life insurance policy” can mean different things. For an agent, it means doing their routine work—selling policies to clients. If you’re looking for that kind of information, this article’s not quite what you’re looking for.    This article refers to the second, lesser-known connotation: a transaction in which a policyholder works with a life settlement broker to sell a life insurance policy they no longer want or can no longer afford to a third party. The policyholder re ..read more

Did you know you can sell all or a portion of a life insurance policy, even term insurance? (4-minute read) For many people, buying life insurance is something you do early in your adult life. It’s a form of protection for loved ones and dependents in the case of an unexpected and untimely death. Life insurance can help them cover the costs of mortgages, tuition, funeral expenses, and more.  But what if you no longer need the security a life insurance policy offers? Maybe you no longer have dependents to worry about or want to spend the value of your policy while you are alive as opposed ..read more

(6 minute read) For decades, life insurance policies have provided seniors with peace of mind that their beneficiaries will be well taken care of in the event of their passing. And for many seniors, their policies serve them well—so they have no problem paying the premiums, knowing that they’re investing in their loved ones’ future. Life is an unpredictable thing, though. So what happens when circumstances change, or your life insurance policy’s premiums become a burden? Fortunately, there is an increasingly popular option that allows policyholders to convert an unwanted or unneeded policy int ..read more

( 3 minute read)   If you have a life insurance policy you no longer want or need, you might be interested in a life settlement. This transaction involves selling a life insurance policy in exchange for a cash sum. Most policy types are eligible, aside from term life insurance policies that don’t have a convertibility option.   Now you’re probably wondering, “is it a good idea to sell my life insurance policy?” And not only is that exactly what you should be asking, it’s what we’re here to answer.   There are really two main questions to answer: the reasons someone might conside ..read more

( 3 minute read) In most cases, selling a life insurance policy for a life settlement requires a minimum death benefit of $100,000. Unfortunately, you usually can’t sell a life insurance policy below that value—but don’t give up just yet. At Life Settlement Advisors, we have a wealth of experience in helping policyholders find the best solution for their situation, sometimes selling all of or even part of their policy. While selling your policy may not be an option, there may be other ways to ease your financial burden—and our life settlement brokers are more than happy to help you through tha ..read more

  (10 minute read) Selling a life insurance policy that you no longer want, need, or can afford to pay the premiums on isn’t a decision to take lightly. That being said, pursuing a life settlement—rather than continuing to pay the premiums on an unnecessary-seeming policy—provides several benefits for those who meet the criteria. This brings up a few key questions, which we’ll answer over the course of this very article, including: What does it mean to sell my life insurance policy for cash? What are the pros and cons of selling a life insurance policy for cash? Who qualifies for a life ..read more