Health care costs are constantly on the rise. According to AARP, the average cost of medical expenses for an American couple over the age of 65 is $240,000. That amount is astronomical to a retired couple living on fixed retirement incomes and heavily dependent on social security. A life settlement could provide immediate financial relief. By selling a life policy, the seller receives a large cash sum that can cover medical expenses and allow for a much more comfortable retirement.
Life insurance is an asset that can be sold. If premiums have become unaffordable or there are steep medical bills that need to be paid, a life settlement may be the best option. On average, the seller receives seven to eight times the policy’s cash value, an amount that could tremendously help alleviate financial burdens.
For many policyowners, education is the key to making decisions that will maximize their assets and provide for their financial goals. To learn more about life settlements and how to offer this valuable option to your clients, visit genesislifesettlements.com or email us directly to talk one-on-one with a Genesis advisor.