Whitestone Life

Maximize The Value of Your Insurance Policy
With a Life Settlement

A life settlement is the process of selling a life insurance policy for a sum greater than the cash surrender value but less than the face value. It allows an insurance policy owner to convert a nonperforming, illiquid asset into immediate cash or another financial product that is more suitable for your present stage of life.

Senior Couple Using a Smart Phone

Like any other asset, life insurance is only worth paying for if it is valuable to you. Life insurance premiums can be expensive, especially if you no longer need the coverage. By selling your policy, you can extract value from it instead of simply abandoning it. A life settlement offers a way to eliminate those high monthly premiums and still make the most of your assets.

Life insurance policy owners can turn an unwanted, unaffordable, or obsolete insurance policy into significant financial opportunities. With the life settlement process, you can liquidate an otherwise dormant asset instead of just letting your policy lapse, canceling it, or surrendering it to the carrier for the cash surrender value.

Why You May Want to Sell Your Life Insurance Policy

  • You can no longer afford the policy’s premium payment.
  • You have outlived your beneficiaries.
  • You need funds for your medical expenses that are not covered by insurance.
  • You require funds for a charitable donation or want to establish a charitable remainder trust.
  • You require funds to purchase more appropriate and cost-effective coverage, such as a long-term care insurance or survivorship policy.
  • You want more funds to improve your quality of life, handle necessary expenses, pay off a mortgage, pay for an education, take a trip, or simply, make a dream come true.
  • You wish to settle personal or business debts.
  • Your estate size has decreased or tax laws have changed, leading to a reduced amount of insurance required to pay projected estate taxes.
  • Your policy is not performing as expected.
  • Your policy no longer meets the needs of your estate.
Smiling Senior Couple

Policies That Qualify

  • Joint Survivorship Life Insurance
  • Key-Man Life Insurance
  • Most Group Life Insurance
  • Term Life Insurance
  • Universal Life Insurance
  • Whole Life Insurance