What’s Reverse Life Insurance?
What’s Reverse Life Insurance?
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What is Reverse Life Insurance?
viatical settlement broker Most people associate life insurance policies with death benefits, but they can also serve as financial resources during the policyholder's lifetime. Ensuring medical or debt-related costs are handled is just one way these policies can provide a safety net during challenging times.
Few people know they can sell their life insurance policy, but this is becoming a more common practice. The term ‘reverse life insurance’ simply refers to the act of turning a policy into instant cash. For those needing a sudden influx of funds, this option could be both viable and lucrative.
What is Reverse Life Insurance? How Does it Work?
best life settlement company There’s a common misconception that ‘Reverse Life Insurance’ and ‘Life Settlements’ are the same, but they differ. While both entail exchanging death benefits for cash, they differ in scope.
Reverse Life Insurance is an umbrella term covering multiple ways to monetize a life insurance policy. In Life Settlements, the policyholder sells their policy for more than the surrender value but less than the full death benefit.
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