selling your life insurance and then act.

Finding it difficult to pay your life insurance premiums? Already agents who promise to relieve you of the burden of paying up monthly premiums might have contacted you , especially when you are a veteran struggling to meet your livelihood expenditure in the present times.

selling your life insurance and then act.
selling your life insurance and then act.


 Life settlements have become pretty popular as they look so very attractive. Think about the human psyche. Life insurance gives you death benefits and life settlement deals give you life benefits.

 Who cares for what happens after death? When you are alive you get a sizeable hunk of cash when you are alive don’t you? And during these economically lean times doesn’t this financial aid come like a life jacket to you who’s already drowned in penury and debt? Of course it looks a great deal doesn’t it? If you buy a policy worth $ 1 million and get $ 250, 000 on its face value for a life settlement isn’t it a worthwhile option? ways selling life insurance Life settlements have become so popular that about half of the policies in 2008 that were sold off to investors are less than four years old, according to a study by Life Policy Dynamics. 

But everything is not as green as it appears to be. sell your life insurance policy But should life settlements become a part of your retirement planning? Nay! Not so soon ! Here are the reasons.

 The brokers who negotiate these life settlement deals need not register themselves as securities dealers. At least the Securities and Exchange Commission does not mandate that. So there’s every chance that you, a vulnerable seventy year old is taken on a ride by one of them.

Next, before those bucks compel you to sign the life settlement agreement find out the policies of the company that wants to buy your insurance.

 The valuation of the policies, the investor and policy holder fees etc. are generally not revealed to the seller of the insurance. As a result you are paying a lot of hidden charges which go in the name of commissions.

 Today a lot of selfish brokers are cleverly convincing people into selling off their life insurance even if they still need them.

The brokers might even stoop down to the extent to give you wrong information about your health or fiscal status so that they can get you to sell your insurance.

 Are you aware that there are about a 100 civil cases being filed for life insurance scams since the last four years as reported by the Senate Special Committee on Ageing? Well, then again, not all brokers are dishonest.

If you are lucky you land up with an honest one amongst the lot. There are other problems also. On selling your insurance, you might become a subject to capital benefit taxes. You may not be given life insurance once again.

 As Scott Berlin, VP New York Life opines, a person is entitled to only limited insurance and if you sell it off, you don’t get the benefit of buying some more.

 Think about the consequences of selling your life insurance and then act.


thanks for the time . 

Message to you : - Keep Educating the children .


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