SERVICES
RETIREMENT
STRATEGIES
It is never too early or too late to start to develop a retirement with strategies and documented retirement plan. See how we can help you save.
COST
SEGREGATION
Tax-Saving Strategy for Commercial Property Owners and Real Estate Investors.
GUARANTEED INCOME FOR
LIFE STRATEGIES
Without enough income, your assets could deplete too soon. We can help you avoid that.
PREMIUM FINANCING FOR LIFE INSURANCE
Use other people's money.
LIFE SETTLEMENTS FOR LIFE INSURANCE
Sell your policy for more cash than the life insurance companies.
INCREASED PROFITS & CASH FLOW
Increase profits and cash flow from you own building.
Life Settlements
Life settlements offer a powerful financial solution for seniors, allowing policyholders to sell their life insurance policies for a cash payout. This option can be particularly valuable for those who no longer need their policy or want to access cash for medical bills, retirement needs, or other financial goals.
A life settlement works by transferring ownership of the life insurance policy to a third-party buyer in exchange for a lump sum. The buyer takes over premium payments and becomes the beneficiary, receiving the death benefit when the original policyholder passes away. The payout from a life settlement is typically more than the surrender value but less than the death benefit, providing a significant financial advantage to the policyholder.
Why Consider a Life Settlement?
There are several reasons why individuals may consider a Life Settlements First, if your life insurance policy no longer serves its original purpose, selling it can be a smart way to unlock its value. Additionally, life settlements are often pursued when premium payments become too expensive, or when policyholders face unexpected financial burdens, such as long-term care costs or major medical expenses.
Eligibility for Life Settlements
Not all life insurance policies are eligible for life settlements. Typically, policies that qualify include term life, whole life, and universal life policies with a death benefit of $100,000 or more. The policyholder’s age and health condition also play a role—most candidates for life settlements are over 65 years old or have experienced a decline in health, increasing the appeal of the policy to buyers.
Benefits of Life Settlements
- Immediate Cash Payout: A life settlement provides a lump sum that can be used for any purpose—whether it’s healthcare, retirement living, or travel.
- No More Premiums: Once you sell your policy, you are no longer responsible for paying premiums.
- Maximizing Policy Value: A life settlement often provides a greater payout than surrendering the policy to the insurance company.
At Tax Free Retirement Specialists, we helping residents explore life settlement options that fit their financial needs. Contact us today to learn how you can turn your life insurance policy into a source of tax-free income.
For more information, visit Tax Free Retirement Specialists.