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If you’re in dire need of money for urgent reasons or for some other purpose you can sell your life insurance policy to Life Partners Corporate. You can choose from two options of monetizing your insurance policy through accelerated death benefits or life settlement. However, not everyone can monetize their insurance policy. But selling it can greatly benefit you being the policyholder especially if you’re in need of cash.

Life settlement

Don’t cancel your life insurance policy if you think you can’t pay your premiums. The best option usually is to convert it to life settlement especially if you aren’t qualified for death benefits. If you need cash because of a serious illness and you’re in need of money opt for life settlement or viatical settlement.

Life settlements involve the sale of an insurance policy to a third-party investor. The current policy holder sells the coverage to that investor at an average of 20-30% of its value. After the sale, the new policy owner then continues making premium payments until the original policy owner passes on. In the event of the demise of the original policy holder, the new policy owner receives the overall face value of the plan as long as he or she has paid the required premiums. This kind of settlement may also be used by employers that provide life insurance coverage for their workers so the former can recoup their investments when an employee leaves the company for reasons such as new employment or retirement.

Accelerated death benefits

If you realize that you don’t need your insurance policy anymore, don’t cancel your insurance coverage. When you cancel, the premiums you paid wouldn’t be refunded. You will do well converting that insurance into money through accelerated death benefits plus you get to keep the money that usually pay your premium.

To find out if you are qualified to take the accelerated death benefits, read through the terms of your insurance policy contract. If you are eligible to get these benefits, you can already enjoy a part of your benefits while you are still living. In addition, you will also be free from paying the remaining premiums plus you will receive the extra money. Generally, you might be able to cash in about 50 to 80% of the insurance policy’s face value.

Life Partners Corporate offers you two easy ways of converting your life insurance policy. One way is through life settlements and while you’re still alive you can enjoy your death benefits.

If you’re a senior looking to create liquidity with your life insurance policy, life settlement companies like Life Partners may be able to help. Life Partners Inc is base is a publicly traded company based in Waco, Texas.

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