Immediate life settlements

With life settlements increasing in popularity amongst senior citizens (above the age of 60) who get a better deal for their life insurance policy instead of redeeming it at the value at which they agreed on. Obviously, there is something in it for them, and in most cases, they always receive far more cash than the policy’s face value if the age, health and policy parameters are in line with what is needed.

Other reasons why a life settlement can be opted for, is due to the policyholder’s inability to pay the premiums and is no longer needed or wanted by the policyholder, or finally, if the policy is underperforming as well.

Of course, in being a senior citizen, these life insurance policies are unneeded because their needs lie in a different direction. Hence, the need for a senior life settlement which gives them the much needed cash that can be diverted to areas such as medication, burial insurance and in estate planning which means that not only can they leave something behind for their loved ones. Normally, accountants, attorneys, wealth managers, estate planners, certified senior advisers along with charitable organizations.

Most of these life insurance settlements are normally agreed upon face to face between the policyholder and the financial experts but with the internet now one can get an immediate quote which is free of cost. Not only is this advantageous for the policyholder who gets an immediate ballpark figure of the amount that they will receive as the settlement figure.