Understanding Reverse Life Insurance
best life settlement company Most people associate life insurance policies with death benefits, but they can also serve as financial resources during the policyholder's lifetime. Ensuring medical or debt-related costs are handled is just one way these policies can provide a safety net during challenging times.
The ability to sell a life insurance policy is a rising trend that many are unaware of. Reverse life insurance, or life settlements, lets policyholders transform their policy into cash on hand. For those needing a sudden influx of funds, this option could be both viable and lucrative.
Understanding How Reverse Life Insurance Functions
viaticals ‘Reverse Life Insurance’ and ‘Life Settlements’ are terms that many confuse, though they have distinct meanings. Both involve converting death benefits into immediate cash value, but they are not identical.
Reverse Life Insurance is an umbrella term covering multiple ways to monetize a life insurance policy. 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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