What’s Reverse Life Insurance?
viatical settlement broker Life insurance policies, commonly viewed as a safety net for beneficiaries after the policyholder’s passing, offer more than meets the eye. These policies can act as a financial cushion, covering costs such as medical or debt-related expenses.
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.
What is Reverse Life Insurance? How Does it Work?
viatical settlement broker ‘Reverse Life Insurance’ and ‘Life Settlements’ are terms that many confuse, though they have distinct meanings. Both involve converting death benefits into immediate cash value, but they are not identical.
As a broad term, Reverse Life Insurance includes various methods of converting a policy into cash. Life Settlements, on the other hand, refer specifically to the sale of a policy to a third party for more than its cash surrender value.
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