At EVCO Insurance our team of expert insurance specialists are thrilled to share our coverage expertise with you—and make sure that you are educated on all insurance options available; even some of the most specific options such as Life Settlements
So what exactly is a Life Insurance Settlement?
In their simplest form, Life Settlements give you the opportunity to sell your life insurance policy for a percentage of the face amount. Considering the option of selling your life insurance policy?
Well then consider this, a Life Insurance Settlement may be good for you if your policy has a face amount over $250,000 and:
- If you no longer have a need for life insurance
- If the premiums are too expensive and hindering your lifestyle
- If you want to see a cash benefit while you are still alive
- If your policy is going to lapse
Here is an example of how an effective Life settlement investment worked for a valued client in the past:
A husband and wife ages 78 and 79 had a $2,000,000 Joint Survivor policy that they had paid $120,000 into over a 10 year period. They then stopped premium payments for 5 years because of financial difficulties. This meant the policy was only going to last for 1 more year before lapsing. Fortunately, they contacted us at EVCO to inquire about Life Settlements and we found a solution to their problem. We shopped their policy to numerous buyers and had the market price for the policy bid up to $379,000! The clients made money on the policy and were able to use their cash to their benefit while still alive.
A Life Insurance Settlement is an easy way to separate yourself from a life insurance policy while still receiving a benefit from it. If you are over the age of 70 and have Universal or Whole Life policy, contact EVCO Insurance today to discuss your policy, settlement and investment options today!