What’s Reverse Life Insurance?
life settlement calculator Life insurance policies, commonly viewed as a safety net for beneficiaries after the policyholder’s passing, offer more than meets the eye. Ensuring medical or debt-related costs are handled is just one way these policies can provide a safety net during challenging times.
The ability to sell a life insurance policy is a rising trend that many are unaware of. Reverse life insurance, or life settlements, lets policyholders transform their policy into cash on hand. Converting a policy to cash can be an ideal choice for those requiring immediate financial assistance.
Understanding How Reverse Life Insurance Functions
best life settlement company The terms ‘Reverse Life Insurance’ and ‘Life Settlements’ are often used interchangeably, leading to confusion. Though related, Reverse Life Insurance and Life Settlements are not synonymous.
Reverse Life Insurance broadly encompasses options for turning life insurance policies into liquid assets. In Life Settlements, the policyholder sells their policy for more than the surrender value but less than the full death benefit.
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