Life Settlements
Colton Groome Advisors can help you create value out of an existing life insurance policy.
Most Insurance Agents and advisors overlook life settlements as an option.
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49%
of financial advisors admit they lack knowledge about life settlements. ¹
MORE THAN
$112B
of policy face value lapses by seniors over age 65 each year. ²
8 out Of 10
policy owners didn’t know they could sell their policy. ³
What Options Are There For Your Life Insurance Policy?
Keep the Policy
- Continue the insurance coverage and premium payments
- Restructure the coverage and premium
- Take a loan or withdrawal from the cash value
End the Policy
- Surrender the policy for cash value
- Replace the current policy through an exchange
- Sell the policy through a life settlement opportunity
How Does Selling A Policy Bring Additional Value?
- Life settlement is the sale of an existing policy to an institutional third party
- It provides a source of cash that can fund current financial needs today
- It creates additional proceeds beyond the surrender value
- It reduces the expense of current and future insurance premiums
It may be a better solution than other options.
When does selling a policy make sense? Learn more by clicking the button below.
Ready to learn more from your Colton Groome Insurance Advisor?
- The Hidden Value in your Life Insurance, 2016, http://www.lifehealthpro.com/2013/09/16/
- Life Insurance Settlement Association, 2015, https://www.lisa.org/life-policy-owners/consumer-blog/blog/2015/02/25/lapsed-life-insurance-policies-an-astounding-number
- The Life Settlements Report, 1/31/2019, https://pipeline.thedeal.com/article/14851134/index.dl
Valmark Securities supervises all life settlements like a security transaction and its’ registered representatives act as brokers on the transaction and may receive a fee from the purchaser. Once a policy is transferred, the policy owner has no control over subsequent transfers and may be required to disclosure additional information later. If a continued need for coverage exists, the policy owner should consider the availability, adequacy and cost of the comparable coverage. A life settlement transaction may require an extended period to complete and result in higher costs and fees due to their complexity. Policy owners considering the need for cash should consider other less costly alternatives. A life settlement may affect the insured’s ability to obtain insurance in the future and the seller’s eligibility for certain public assistance programs. When an individual decides to sell their policy, they must provide complete access to their medical history, and other personal information.
