Sell Your Life Insurance Policy for Cash
Life insurance policies are an asset that can be sold for cash just like any other valuable asset.
If you are age 65 or older, you may be pleasantly surprised to learn that your life insurance policy may be worth much more than you think. Even term policies that have no cash surrender value may have substantial value and can be sold. Policies that have a cash surrender value can usually be sold for several times the cash surrender value.
Union America Insurance Agency, an independent insurance broker and life settlement broker, is committed to assisting people who have decided to sell their policy, with a death benefit of $100,000 or more, that we will obtain the best price possible by soliciting bids from various financial institutions and other qualified buyers.
If you would like to convert your policy to cash that you can use now, there is an excellent chance we can meet your goal by securing bids from potential buyers. After qualified buyers have bid against each other, we present you with an offer that you can accept or reject. It’s that easy.
Why Do People Sell Their Policies?
- The named beneficiary no longer has a need for the coverage;
- The premiums have become too expensive;
- The cost of the premiums could be better utilized for retirement, assisted living expenses, medical expenses, delinquent taxes, paying off a home loan, or some other purpose;
- The owner of the policy is considering letting the policy lapse;
- You may be over insured;
- Your estate planning advisor has recommended the sale of the policy; and/or
- A key person life insurance policy is no longer needed because the key person has left the company.
What Determines the Value of Life Policy?
Life insurance policies are valued at less than the death benefit or face amount, but substantially more than the cash surrender value. Term policies with no cash surrender value often have substantial value as well. The primary factors that are considered by bidders are:
- The face amount of the policy,
- The cash surrender value,
- The type of insurance policy,
- The age and health condition of the insured, and
- The life expectancy of the insured.
Please contact UAI if you have an interest in converting your life insurance policy, with a face amount of $100,000 or more, into cash that can be used now. The evaluation will be conducted and bids obtained at no cost or obligation. No medical exam is required.
To get the process started, you may call or complete and send us the qualifying worksheet.
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