What is Reverse Life Insurance?
viatical settlement 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.
The ability to sell a life insurance policy is a rising trend that many are unaware of. Reverse life insurance, or life settlements, lets policyholders transform their policy into cash on hand. This option can be particularly beneficial for individuals seeking immediate financial relief.
What is Reverse Life Insurance? How Does it Work?
life settlement calculator The terms ‘Reverse Life Insurance’ and ‘Life Settlements’ are often used interchangeably, leading to confusion. While both entail exchanging death benefits for cash, they differ in scope.
Reverse Life Insurance broadly encompasses options for turning life insurance policies into liquid assets. Life Settlements, on the other hand, refer specifically to the sale of a policy to a third party for more than its cash surrender value.
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