shopify analytics ecommerce
tracking

Selling A Life Insurance Policy

Sell Your Life Insurance Policy For Cash

Selling a life insurance policy, in recent years, have become almost commonplace to the terminally ill as well as to people with declining health.

I find it disturbing that people in the United States could find themselves in such a position that such an action is necessary.

There are many advantages to selling a life insurance policy but the few disadvantages should also be considered.


Shop and compare Insurance Rates from 100's of the Top Carriers. Get the Best Quotes possible. Save up to 70%. Click Here For Free Quotes


Selling A Life Insurance Policy Now Commonplace

Life insurance, from the beginning of the first life company, was created with the intention of taking care of financial needs of the family in the event of the premature death of the breadwinner. This I see as a very honorable, thoughtful, and even noble act.

After all when you asked this lady to be your wife you promised to take care of her even in disastrous times. As for the children...they did not ask to come into this world.

Although your children may now be grown and are enjoying a prosperous, healthy and happy life, it just seems to me that to deprive them of the proceeds of a life insurance policy that was intended for their welfare would be, to say the least, dishonorable.

Selling a life insurance policy just does not sit well with me unless it is absolutely necessary. There are many immediate advantages, but is it necessary? Could you use the cash values, in the form of a loan, to achieve your goal and still leave the policy proceeds for the family?

What of your wife? If she has her own pension and some additional cash put away in some type of investment should she not still receive the benefits of that life insurance policy. After all, if there were not women and children there would not be life insurance. Selling a life insurance policy should be avoided if possible.

  • The Advantages Of Selling Policy

    If you sell your policy now you will get a lump sum which can be used to ease financial burdens. In fact, you can do as you wish with the cash you receive. There are no limitations or restrictions on this. If your policy is a permanent policy you have cash values.

    The amount you receive from selling the policy may be more than the cash value of the policy. If your policy is a term policy there are no cash values, but for the sale of your policy you can get as much as 60% of the face value of the policy from a viatical settlement which is what such a transaction is called.

    You will have no more premiums to pay; that means one less bill. This transaction is complete when you receive your cash. If you took a loan from you cash value life insurance policy you would be required to repay it...either in your lifetime or upon your death.

    You may receive the proceeds tax free. Since this idea of selling a life insurance policy is fairly new this tax matter has not yet been settled in the courts.
  • The Disadvantages Of Viatication

    People sell their life policies usually because illness or even eminent death has forced them into a dire financial situation. You should keep to the forefront of your thoughts that this may result in the loss of any public assistance due you, either presently or in the future. I refer to things such as Welfare benefits, Food Stamps, Medicaid and some Social Security benefits.

    There is no longer any privacy as far as your health is concerned. When you apply to sell your policy, or cash your policy as it is sometimes called, you would be surprised as to who gets to know about your health.

    There are no longer any life insurance proceeds payable to your loved ones after selling a life insurance policy. You no longer have a life insurance policy, so if you can get a loan from your policy or otherwise avoid the sale of it don't do it.

One good way of achieving the same results as you would selling a life insurance policy is to prepare for the possibility of becoming incapacitated at some time in your life by buying a policy for that specific purpose.

This policy would be specifically designed to take care of that eventuality if necessary. This is referred to as accelerated death benefit. It can be purchased as either be part of a policy or a rider to a policy.


Want to protect your family with life insurance? Take a Free look at Top Quality Life Insurance Quotes from a Highly Rated Carrier and Save. Click Here For More Info


Life Insurance Quotes Viatical Settlements Selling A Life Insurance Policy Cashing A Life Insurance Policy Life Insurance Policy For Sale Viatical Settlements Investments Life Insurance Settlements Life Insurance Policies Term Life Insurance Policies Whole Life Insurance Policy Term Life Insurance Mutual Funds Financial Planning Life Insurance Quote Whole Life Insurance Financial Security Estate Planning Explanation Of Term Life Insurance Mortgage Insurance Universal Life Insurance Long Term Care Insurance Disability Insurance Low Cost Term Life Insurance Whole Life Insurance Quotes Cheap Life Insurance Disability Insurance Quote Life Insurance Companies Cheap Term Life Insurance Term Insurance Affordable Life Insurance Term Life Insurance Quotes Online Life Insurance Low Cost Life Insurance Whole Life Insurance Quote Term Life Insurance Rates Accidental Death Benefit Life Insurance Rates No Load Life Insurance Incontestability Burial Insurance Fixed Annuities Life Insurance Quote Online Variable Annuities

Tools And Resources

Life Insurance Need Calculator

Recent Articles

  1. Term Life Insurance - Everything You Want To Know

    Term life insurance is life insurance in it's simplest form. These policies stay in force for a specific number of years, for example, 5 years 10 years etc.

    Read More

  2. Whole Life Insurance Options - Basic And Alternative Whole Life Plans Explained

    Whole life insurance is the plan of choice for many people. There are many variations to this plan.

    Read More

  3. Universal Life - Extending The Possibilities

    Universal life insurance was designed with the express intention of combatting the venerable whole life insurance policy.

    Read More

  4. Term Insurance Quotes - Prepare Before You Get Quotes

    Are you looking for quality term insurance quotes? Have you determined how much you need? Do you know what type of term insurance is best for you?

    Read More

  5. Term Insurance Online - Buy Term Life Insurance Online

    In many cases it is a good idea to buy term insurance online. Some people know just how much life insurance they want to buy before they get online.

    Read More