Page 8 - The Lifeline Program White Paper

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For seniors, a life insurance policy
that costs a few hundred dollars
per year to keep in force may be
worth hundreds of thousands of
dollars once they reach age 70,
when a life insurance settlement
becomes a viable option. Policies
with a face value of $250,000 or
more can be sold at that time
and provide an immediate
financial lifeboat. Though payouts
vary depending on the type of
policy and medical history of the
policyholder, it is not uncommon,
for example, for a senior with a
million dollar policy to receive a
six figure life settlement. This is a
significant figure, particularly
when you realize that many
seniors let these policies lapse
and receive nothing. Keeping a
policy in force for a few more
years can make a major
difference.
Like any financial transaction,
we recommend speaking with
experts before jumping in.
Financial advisors and life
settlement providers can quickly
inform you of your options, but
above all, pay attention to your
life insurance and research all of
your options. Keeping insurance
in force until you reach your 70s
could be the financial difference
between retiring happily and
struggling along.
We recommend that
seniors should do
everything in their
power to keep their
insurance in force for
as long as possible.
FOR MORE INFORMATION ON LIFE INSURANCE SETTLEMENTS
AND SELLING YOUR LIFE INSURANCE POLICY, VISIT:
>>