How To Sell Your Life Insurance Policy For Cash

If you want to know how to sell life insurance policy read this article to find out how. While it may not be for everyone it is the right choice for some It is often used with terminal illness or during retirement years. Are you ready to learn how to sell life insurance for cash?

How to Sell Life Insurance Policy – Accelerated Death Benefits

When people reach a certain age, some feel they no longer need a life insurance policy and decide to cancel it to save money. Don’t throw away all that money you’ve spent on your policy over the years, explore accelerated death benefits, and learn how to sell life insurance for cash.

To quality for accelerated death benefits you must have 24 months or less to live. You will need to read your policy to see if this is an option. Assuming it is here’s how to sell life insurance for cash. With the accelerated death benefits you cash in part of your life insurance benefits while you are still alive. You don’t have the premium payment any longer and you will have a little extra cash in your pocket. Generally you will receive 50% to 80% of the life insurance policy’s face value.

Now that you know how to sell life insurance for cash, contact your life insurance agent and begin filing the appropriate forms. You will decide just how much of your policy to take, and then your beneficiary will receive the remaining portion of the policy less the accelerated death fees.

How to Sell Life Insurance Policy – Viatical Settlement

Viatical settlements are a good alternative to cancelling the insurance or if you don’t qualify for accelerated death benefits. Here’s how to sell life insurance under a viatical settlement, which is often used if a person is terminally ill.

You will sell your life insurance policy to a third party. This agreement is called a viatrical settlement. In return the viatical settlement will change the current beneficiary to them. They will continue to make the payments, pay you a portion of the policy now, and then get the entire face value of the policy upon your death.

This method of insurance is also used by business on key employees. When they retire or quit there is no longer the need and a viatical settlement is how to sell life insurance to recoup cash

Know that you know how to sell your life insurance policy for cash you can decide what’s right for you.

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