Lots of people have found themselves in this position; maybe you have, too – you purchased life insurance years ago, and now you don’t need it anymore, plus the premiums have gone way up due to your age. So you have a choice to make: should you keep your life insurance or cancel it to save on the escalating cost of monthly premiums?
Actually, there’s a third option you can consider. It’s called a life settlement. You can sell your life insurance policy for a one-time, lump sum cash payment. If you meet the eligibility criteria (most often this is being at least age 70 and owning an insurance policy with a value of $50,000), you can make money from your policy instead of continuing to pay money on it. Let’s see how this works.
Harbor Life Offers 30 Years of Insurance Experience
Harbor Life Settlements offers you the benefit of its over 30 years of insurance industry experience. Here’s a fact: 85% of life insurance policies lapse due when policyholders reach their golden years. That’s because the insurance companies raise the rates; often to unaffordable levels for the average senior. At this point, if you’re in this situation, you have a hard choice to make. Often the choice is to let the policy lapse and stop paying the monthly premiums. With a life settlement you can get the best of both worlds by selling your policy. You’ll get the sale proceeds AND stop paying monthly premiums. Allowing the policy to lapse means you’ve paid in for years, sometimes decades, and you and your heirs will receive nothing in return.
Don’t Let Your Life Insurance Policy Lapse!
A life settlement from Harbor Life is a better option because we will find you the best price for your policy, and we’ll do it much more quickly than other brokers or companies due to our knowledge of the industry. Often we can get you a cash offer in as little as two weeks. Compare that with other life settlement companies that can take several months to get you your offer!
It may be hard to believe that a life settlement could be available to you. That’s because people are conditioned to believe that life insurance only ‘pays off’ when you die. It is actually a liquid asset – your property to sell, if you wish. This was established over a century ago in a landmark court case decided by the legendary Justice Oliver Wendell Holmes. With this historical precedent behind it, life settlements have grown in popularity as a way for seniors to fund retirement, pay for long term care, and ease the strain on their finances as they age.
Get the Cash You Need from an Asset You Didn’t Know You Had
Think of your life insurance policy as an asset that can be tapped for cash, without causing you to dip into your savings or take another mortgage out on your house. This extra cash can help you remain independent – more money of your own can give you more choices. It can help you continue to make your own decisions, opposed to asking family or the bank for a loan.
So if you have an unneeded life insurance policy, don’t let it lapse! Capture its value – Call Harbor Life Settlements today at 1-800-694-0006, or visit our website for a free quote. Get up to 40% of the death benefit, if you qualify. Stop paying premiums and walk away with a cash lump sum payment – all from an asset you didn’t know you had! Contact Harbor Life today – our service is free – no risk and no obligation to sell!