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Why settle?

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Why would I sell my term, universal, or whole life insurance policy?

Life insurance policies are settled for a host of reasons. No matter what your particular reason is, never let a policy lapse, never let a term policy conversion period expire and never surrender it before you have explored the secondary market opportunities. At Genesis, we will help you not only navigate the complex settlement market; we will ensure you have a truly professional experience.

Using your life insurance policy as a financial asset is still a relatively new idea. It is subject to much misunderstanding, urban legend and a variety of other biases. A typical question is, “What can I use the payment for?” The answer is: Anything you want.

Here are some of those common reasons a life settlement may be of interest to you:

  • The life insurance policy is no longer needed or wanted.
  • The premium payments have become unaffordable.
  • Considering the surrender of the policy for cash surrender value.
  • The term policy will not be converted to a permanent policy. The term policy may be converted and then settled.
  • The policy is going to lapse.
  • Change in estate planning needs.
  • Insured qualifies for a new policy which is more affordable than the old policy.
  • The policy is owned by a business insuring a key employee or partner and the business no longer needs the coverage.
  • Financial circumstances have changed and there is a need for cash now to improve quality of life or cover expenses.
  • Change in life circumstances (such as divorce or death).
  • Opportunity to provide a gift to a family member or charity.

If you are thinking of selling your life insurance policy give Genesis Advisors a call.

Successful Settlements

  • 74 year old male74 year old male
    Market Leader Policy Face Amount: $20,000,000 Total (2 $10,000,000 policies) Cash Surrender Value: $0 Genesis Procured: $975,000 A policy owner with two policies insuring a …

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