WHY CASH IN ON A LIFE INSURANCE POLICY BUYOUT?
There are many good reasons why selling your life insurance policy through a Life Insurance Settlement makes total sense:
* Your policy has become too expensive to maintain.
* Letting your policy lapse provides little or no benefit.
* The settlement amount you will receive is always greater than the cash surrender value of your policy - and that's just FREE MONEY in your pocket!
* You are having a challenge just to meet your day-to-day expenses.
* A decline in your health has increased your medical expenses.
* Your health and long-term care have become a financial problem.
* Your are afraid of leaving his family burdened with debt.
* New tax laws or estate changes have made your current life insurance coverage excessive.
* You have or must move into in an assisted care facility and you have exhausted your ability to pay for your residential care.
* You may require alternative funding for more suitable financial products.
* Your family is grown and you no longer need the amount of coverage your once needed to ensure their security.
* You may want some of your estate to be spent in ways YOU want. You can ensure your grandchildrens' education by fully funding their college trust, donate some to your favorite charity, or however else you'd like to see some of your estate spent.
And here are two of the coolest reasons:
* If you are in your 70, 80s or 90s, you are part of the greatest American generation - the World War II generation. You have sacrificed as has few other generations - and you deserve to live to the fullest. Cashing in with a Life Insurance Settlement can give you a money explosion to allow you to take a trip you wanted to all your life, have money for medical help your health insurance won't handle, or to just do what you want. You deserve it.
* One of the biggest last regrets for many people is that they won't be around to watch their heirs spend their inheritances. Now you can! You can still leave a sizable estate and use a Life Insurance Policy Buyout to enjoy life with your children, your grandchildren, nieces and nephews or great-grandchildren. Take them on a cruise or a vacation trip they will remember all their lives. Buy your children a new house in a better neighborhood where you know your grandchildren will be safer. Help one of your loved ones open a business, or buy a new car. They could all this after you are gone ... but think how much more memorable it will be if they do it while YOU are still around to enjoy the happiness you are giving them!
By selling your policy with life policy buyouts, you eliminate the expense of premium payments, are better able to pay day-to-day expenses, preserve your high quality of life, enjoy increased financial liquidity in mercurial economic times, and maintain control over your own affairs before passing. This is tremendous peace of mind for many seniors ... and it will for YOU too!
BENEFITS OF A LIFE INSURANCE POLICY BUYOUT!
* There are NO out-of-pocket expenses to you - the buyer of your policy pays ALL expenses and fees for the transaction, and you end up getting MORE than your policy's surrender value ... it really is FREE MONEY!
* You can approach a company that purchases Life Insurance Policy Buyouts on your own, but you will only get one offer, and you will have to fill out all that paperwork with EACH company you try to sell to, but RedScissors.com cuts through all that paper red tape and gets bids from 30 or more companies and then rebids your policy until you squeeze the most you can out of your asset. And you know what that means ... MORE FREE MONEY!
* You receive additional funds to compensate for loss of income since retirement.
* You eliminate premium expense.
* You can meet day-to-day obligations and relieve overall financial stress.
* You can preserve a high quality of living.
* You obtain increased financial liquidity in varying economic times.
* You maintain control of affairs before passing.
* So you can observe the benefits of asset distribution.
* You can do the things you've always wanted to do in life.
* You get peace of mind.
TO BE ELIGIBLE FOR A LIFE INSURANCE POLICY BUYOUT, YOU MUST BE:
Age 72 or over, with:
* A life insurance policy with a face amount of at least $200,000
* A change in insurability since the policy was issued
* A life expectancy of 15 years or less.
HOW DOES THE LIFE INSURANCE POLICY BUYOUT PROCESS WORK?
* Insured completes and signs the Life Insurance Policy Buyout Application.
* Insured signs the HIPPA form.
* Insured signs medical release form so we can order medical reports from the last 3-4 years (unless insured already has those complete reports to current).
* Insured obtains current illustrations from the insurance company (or signs the form for us to obtain those).
* These forms are submitted to all above-mentioned companies who are interested in bidding on the policy. Companies then submit a bid.
* Rounds of bidding continue until all parties cease bidding.
* Final offer is submitted to you.
* Once an offer is accepted, the life settlement company issues closing documents.
* After receiving executed closing documents, change of ownership and beneficiary forms are sent to the life insurance company, and the policyholder receives a check for the settlement.
The entire process usually takes a few months.
WHAT ABOUT MY PRIVACY?
Rest assured, you have complete confidentiality. Our underwriters all maintain third-party escrow and third-party management companies to process your personal information. No information is sold, shared or exchanged in any manner. When a bid is unsuccessful on a policy, all information regarding that policy is destroyed.
CASE HISTORIES
Case History 1
Client: 83-year-old female
$325,000.00 Term Policy: Smaller of two policies owned by insured and she no longer needed the policy.
Life Settlement offer: $80,000.00
Case History 2
Client: 87-year-old male
$2.5 million in coverage: The client no longer wanted to pay for the policy. He was going to surrender it for $374,000 - but the agent wanted to keep the policy in force. The client gifted the funds to his son & grandchildren, and kept the policy in force.
Life Settlement offer: $1,310,000
Case History 3
Client: 80-year-old male in fair health
$400,000 UL Policy, $2,800.00 cash value: The client no longer needed the policy and is using the funds for other investments.
Life Settlement offer: $91,000.00
Case History 4
Client: 76-year-old male with minor health problems.
$1,700,000 policy about to lapse: The owner could not afford to keep the policy in force.
Life Insurance Settlement received: $275,000
Case History 5
Client: 81-year-old male in relatively good health.
Result: $260,000.00 policy with an annual premium of $10,300.00. Insured sold the policy for $83,200.00
Case History 6
Client: 78-year-old female in relatively good health.
Result: $1,000,000.00 policy with an annual premium of $84,000.00. Insured sold the policy for $160,000.00
Case History 7
Client: 76-year-old female in relatively poor health.
Result: $2,000,000.00 UL policy with an annual premium of $110,000.00. Insured sold the policy for $325,000.00
Are you now asking yourself: How do I get cash for my life insurance policy?
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