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Converting An Unwanted Life Insurance Policy Into Ca$h Do You Own A Life Insurance Policy That You No longer Need or Want? It is possible that you may be able to can get a CASH settlement in excess of the current cash surrender value by selling your policy in the secondary market to an investor. Reasons To "Sell" A Policy: Family Situations Bankruptcy Estate Reduction Estate Tax Revision Business Was Sold 1035 Exchange Drain On Income Divorce - Separation Death of A Spouse Retirement Declining Health Non-Performing Policy Wealth Planning Work Related Changes Qualifying Types Of Life Insurance: Group Whole Life Term (Convertible) Joint Universal Variable Key Man (business related) Who Is A Qualified Candidate? Mature men and women over age sixty-five years of age who have an existing life insurance policy and whose circumstances have changed since purchasing the policy originally may qualify for a purchase and sale of their policy. Financial advisors view this as a powerful and innovative wealth and estate planning tool. How Much Is A Policy Worth? There are a number of variables that determine the offered amount for a policy, including the following; * Age (of course) * Premium cost * Client's Health * Type of Insurance * Death Benefit * Insurer Rating * State of Residence *Underwriting criteria Note: As a general rule the most heavily weighted items are the age of the insured (the younger a person is a lesser current » Discuss it » Continue Reading »
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