“selling your life insurance policy can free you of unwanted premiums that no longer fit into your current estate plan”
- When a policy owner outgrows their policy:
It is not uncommon for an individual to have a policy that was purchased decades ago when they had young children. As these children grow up and have families and insurance of their own the insurance policies their parents purchased are no longer necessary. In cases like this it would be prudent to have the policy evaluated to see if a life settlement is a viable option.
The life settlement may allow an aged unwanted or unneeded policy to be converted into liquid capital that can be reinvested in a manner that is more in line with current needs and goals.
- When changes in estate tax exemptions influence planning:
In the past, a significant number of policies where purchased to mitigate estate tax burdens. However, in the past decade estate tax exemptions have increased dramatically. Due to this shift these tax planning insurance policies have lost their utility and are an unnecessary expense. Selling the policies can free policy owners of unwanted premiums that no longer fit into their current estate plan.
If you are looking for more information on how to work with life settlements feel free to contact us.
For a quick estimate of a clients policy value be sure to use our online life settlement calculator.