Why Settle?

 

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 Brookfield Partners, 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 Brookfield Partners a call.