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How it works
Understanding selling your life insurance: Why it makes sense
You might not think of life insurance as an asset you own. The reality is, a life insurance policy is actually a form of equity you own. If you sell your life insurance policy in exchange for a fixed cash value, it will be less than what the death benefit is, but this is often desirable for various reasons as we describe below.
Everyone’s needs are different.
Are you reaching retirement age? A lot of decisions happen now. One of them is reevaluating your life insurance policy. Do you still want or need it?
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Life insurance is an asset YOU own.
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Redeeming you policy for a fixed cash value has a lot of benefits. You might relate to any of the following scenarios when thinking about redeeming your life insurance policy:
Scenario #1: “My kids are grown up and financially stable.” Your beneficiaries may no longer be dependent on you for their financial security. You can use the redeemed value of your life insurance policy towards your own needs.
Scenario #2: “I can’t afford to continue paying these premiums forever.” You may not want the extra bills to continue landing on your kitchen table month after month for a policy you don’t really want. Redeem your life insurance policy to end monthly premium bills, while benefiting from the lump sum payout that is your due.
Scenario #3: “I’d want to enjoy my golden years.” Life changes and your needs and wants change with it. Maybe you want to buy a vacation home, travel the world or enjoy your money in other ways? Redeeming you life insurance policy allows you to benefit from the money that is already yours, right away.
The process
We’re here to make things simple, transparent and easy when it comes to redeeming your life insurance policy. We guide you through each step so you know exactly what’s going on, and what information is needed. We encourage you to ask any questions. Our goal is to make the process of redeeming your life insurance policy as smooth and hassle-free as possible.
Step 1
Contact Us
Discuss your needs and ask any questions with your knowledgeable advisors, free of charge. We explain the process, determine if you qualify, and discuss the amount might be eligible to receive for your redeemed policy.
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Step 2
Get Documents
We will need some basic documentation to help you redeem your life insurance policy and facilitate quotes on your behalf. No health screening is required. This step helps us determine the redemption value of your policy and allows us to facilitate quotes on your behalf.
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Step 3
We Get Quotes
We work behind the scenes to get you an offer for your policy. You can choose between selling your entire policy or keeping part of your policy’s death benefit while eliminating future premium obligations.
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Step 4
Redeem Policy
Once you approve the redemption amount, we’ll send you a check for your redeemed policy. We walk you through the process of completing some additional documents so we can proceed to transfer the money to an escrow account. Once the process is complete, we mail you a check. Enjoy!
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