When you help a client turn an unwanted life insurance policy into cash, that client will be forever grateful. Imagine turning something that they don’t want to pay for into meaningful income. You can help them repurpose those funds into products that are better suited for their current situation. You can be a hero.
We do this for clients all the time, but recently one story stuck out, and we want to share it with you now.
A 61 year-old female recently was told about life settlements by a friend who conducted a transaction with us. She had just received news about a metastatic adenocarcinoma diagnosis and needed financial assistance.
Her $335,000 policy was not convertible and she thought it was useless. With mounting medical bills, she would likely stop paying the premiums within a few months. Lucky for her, her friend had seen the financial leverage that could be opened up with the sale of life insurance policy and got us in contact.
With careful underwriting and astute negotiation, we were able to secure many offers her policy. With a four year life expectancy on paper, the top offer delivered $160,000 to her. These funds paid for expensive treatment that her sparse health insurance didn’t cover. And the treatment worked! She’s now traveling the country in an RV and enjoying the vacation of a lifetime thanks to her life settlement.