Understanding Reverse Life Insurance
viaticals Life insurance policies, commonly viewed as a safety net for beneficiaries after the policyholder’s passing, offer more than meets the eye. For example, life insurance policies can be leveraged to cover expenses like medical bills or debt while the policyholder is alive.
The ability to sell a life insurance policy is a rising trend that many are unaware of. Referred to as ‘reverse life insurance’ or ‘life settlements,’ this process essentially converts a policy into immediate cash value. For those needing a sudden influx of funds, this option could be both viable and lucrative.
Understanding How Reverse Life Insurance Functions
best life settlement company 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. By contrast, Life Settlements focus on selling the policy for an amount between its surrender value and death benefit.
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