It happens in every stage of life: the need for some extra cash. Once you enter retirement, living on a fixed income can make it difficult to afford necessities and some activities you’d enjoy. Finding ways to either cut expenses or bring in more money (or both) can be stressful. Harbor Life Settlements would like to offer you an option that you may not have heard about – selling your life insurance policy.
Don’t Let Your Life Insurance Policy Lapse!
Many people don’t know that selling their life insurance policy is even an option. What about you? Maybe you are just learning about this now, with a visit to our website, and we’re glad you’re here. One of the first facts we want to acquaint you with is that 85% of all policyholders let their life insurance lapse. This isn’t difficult to understand; as a person ages, the premiums go up faster and faster, until they are often unaffordable, later in life. By that point, some seniors are faced with a tough decision: keep paying the high premiums or get out from under them and let the policy lapse. While giving up life insurance is one way to escape high premiums, it will also leave a person with nothing after years of payments.
Examples of How a Life Settlement Can Help You
There’s a better way – and that’s what a life settlement is all about.
Let’s take a look at three typical scenarios. These are common situations that lots of people face. They illustrate how receiving a lump sum cash payment from selling life insurance can provide peace of mind.
John: John is 73 years old and has high blood pressure. He’s in reasonably good health otherwise and owns a $1 million dollar life insurance policy. After Harbor Life assists him with eligibility questions, we shop his policy to get him the best cash offer. Within about 2 weeks we present John with a top cash offer (up to 40% of his life insurance death benefit). He accepts the offer, and sells his policy. Harbor Life arranges the sale and he is given his cash payment. Now John has a lump sum of cash he can spend to defray his wife’s long term care expenses. And he doesn’t have to pay high life insurance premiums anymore, since he no longer owns the policy.
Karen: She’s a free spirit and wants more money so she can spend her retirement traveling. Due to a lack of funds, she’s been spending more time close to home until she heard about Harbor Life and life settlements. Karen is 74 years old, and has diabetes. She owns a $500,000 life insurance policy. Harbor Life shopped that policy and presented Karen with a cash offer. Karen sold her policy and used the sale proceeds to plan the trip to Bermuda she wanted.
Thomas: Thomas is 71 years old and is in good health. He doesn’t need cash currently, but he is curious about life settlements. He wants to know what his life insurance policy is worth in cash. Harbor Life gets him the best cash offer from multiple buyers, and Thomas is surprised he can receive up to 40% of his policy’s death benefit. He opts to keep his $2 million dollar life insurance policy for now, but he likes knowing what it’s worth. He especially likes that Harbor Life’s services are FREE and he was not obligated to sell his policy.
Life Insurance – Your Liquid Asset
These hypothetical cases illustrate how Harbor Life can assist you with a life settlement. You can also talk to us about our testimonials – we have helped thousands of real people just like you, with valuation of their policies. Some sold their policies for cash, and others opted to wait. You may wish to sell your policy now, or you may decide to hang onto your insurance, knowing that it is a liquid asset.
Harbor Life Settlements wants all seniors to know the value of their life insurance policy in cash. Want to know more? Give Harbor Life a call at 1-800-694-0006, or visit our website for a free quote. We look forward to serving you!