What’s Reverse Life Insurance?
Can I sell my life insurance 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. For those needing a sudden influx of funds, this option could be both viable and lucrative.
What is Reverse Life Insurance? How Does it Work?
viatical settlement broker There’s a common misconception that ‘Reverse Life Insurance’ and ‘Life Settlements’ are the same, but they differ. While both entail exchanging death benefits for cash, they differ in scope.
Reverse Life Insurance is an umbrella term covering multiple ways to monetize a life insurance policy. 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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