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Policy Value Calculator

Why Sell My Life Insurance Policy?

  • You no longer wish to pay the required premiums
  • You need funds to pay for other expenses such as Retirement or Health Care
  • You want cash so you can invest in a better opportunity
  • You're concerned that you'll outlive your policy
  • You've received notice that the cost of your policy will skyrocket soon

Calculate Your Policy's Value to Get Started

What's a Life Settlement?

Like a home, Life insurance policies build equity over time.  As money is paid into the policy it's equity or value may increase. The policy, and it's equity, is personal property, and therefore can be sold if the owner of that property no longer needs it or believes they can better utilize those dollars elsewhere. When someone sells all or a portion of their life insurance, they sell it for a lump sum amount more than they would have received if they surrendered it back to the life insurance company.  In many cases, the owner may receive four times the amount that may have otherwise been offered by the insurance company.  However, they will always receive less than the full death benefit of the policy.
 
This is known as a "Life Settlement." A settlement is not a loan, but rather a one-time cash transaction with the proceeds of the settlement being paid directly to owner of the policy. Ownership of the policy, including premium obligations and beneficiary rights, are then transferred to an institutional investment fund, which eventually collects the death benefit in hopes of making a profit.

Real People, Real Stories

 

Eddie, Age 83

At age 83 Eddie decided his life insurance policy no longer met his goals for his estate plan and considered surrendering it entirely. Because of his advanced age and medical history, Eddie was offered almost double the cash surrender value of his $2,485,065 policy with a final settlement value of $1,200,000. This money went directly into Eddie’s account and he is now able to use these funds to finance all of his retirement needs.

Adam, Age 56

At only 56 years-old, Adam was diagnosed with rapidly progressing cancer. He needed immediate financial assistance for his treatment.  In exactly 30 days, Adam received a lump sum of $201,000, allowing him to immediately secure critical medical care without passing on any debt to his family.
And the best part of this story: after receiving incredible medical care, Adam was cancer-free and able to move forward with his life; without the often crushing weight of medical debt.
 

Sandra, Age 59

Sandra was struggling under the weight of high monthly premiums and was in need of resources to help with family issues. She considered letting the policy go, but then learned she had other choices. Through a hybrid option she was able to keep a portion of the policy's death benefit for her beneficiaries and received $110,000 to help with medical care and other family needs.

or call us to get started
801-999-8531

Frequently Asked Questions

Q. Is a life settlement right for everyone?

A. No. It is important to work with an experienced settlement advisor to determine if a life settlement is suitable for your situation.

Q. How much is my policy worth?

A. A formal offer depends on your age, current health, and the policy's death benefit. However, using our interactive calculator will give you an estimated value today.   

Q. May I sell a portion of my policy and keep some death benefit?

A. Yes. We are able to customize a settlement to fit various needs and wishes.

Q. What are the next steps?

A. We work with you to complete a short application which is used to determine your estimated life expectancy.  Once this study is complete, we'll make a formal offer.

Q. Do I pay taxes when I sell my policy?

A. The short answer is yes. You will end up paying capital gains tax on the amount your received minus the premiums you've paid throughout the years.

Q. What's the age requirement to sell a policy?

A. We work with clients of all ages. However, the typical age range of our life settlement clients is 65-90.

Q. I have term insurance, may I sell it?

A. Possibly. This depends on which insurance company the policy is through as well as if the policy is still eligible for "conversion."

Q. May I sell my universal or whole life policy?

A. Yes. Universal life policies are the most common policies settled. On the other hand, it may not be suitable in all cases to settle a whole life policy.

Q. How quick is the process of selling my policy?

A. This depends on individual circumstances. However, we do our best to settle your policy within 45-60 days of submitting your application.

or call us to get started
801-999-8531