Understanding Reverse Life Insurance
life settlement broker Life insurance policies, commonly viewed as a safety net for beneficiaries after the policyholder’s passing, offer more than meets the eye. These policies can act as a financial cushion, covering costs such as medical or debt-related expenses.
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. Converting a policy to cash can be an ideal choice for those requiring immediate financial assistance.
Understanding How Reverse Life Insurance Functions
viaticals The terms ‘Reverse Life Insurance’ and ‘Life Settlements’ are often used interchangeably, leading to confusion. Though related, Reverse Life Insurance and Life Settlements are not synonymous.
As a broad term, Reverse Life Insurance includes various methods of converting a policy into cash. Life Settlements, on the other hand, refer specifically to the sale of a policy to a third party for more than its cash surrender value.
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