What’s Reverse Life Insurance?
viatical settlement calculator Most people associate life insurance policies with death benefits, but they can also serve as financial resources during the policyholder's lifetime. 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. This option can be particularly beneficial for individuals seeking immediate financial relief.
Understanding How Reverse Life Insurance Functions
best life settlement company ‘Reverse Life Insurance’ and ‘Life Settlements’ are terms that many confuse, though they have distinct meanings. While both entail exchanging death benefits for cash, they differ in scope.
Reverse Life Insurance broadly encompasses options for turning life insurance policies into liquid assets. In Life Settlements, the policyholder sells their policy for more than the surrender value but less than the full death benefit.
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