Life Settlements

What are Life Settlements?

Let’s consider you own a Universal or Whole life insurance policy and are over the age of 70. Have you ever thought, "Can I sell my life insurance policy?" Life Settlements give you the opportunity to sell your life insurance policy for a percentage of the face amount.

Life Settlements 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 Life Settlements working 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.

Life Settlements are an easy way to separate from a life insurance policy while still receiving a benefit for the policy. If you are over the age of 70 and have Universal or Whole Life policy, contact EVCO today to discuss your policy.