To Sell Your
Life Insurance Policy
Selling your life insurance policy also known as a viatical settlement, can give
you the cash you need to take care of expenses. Check out this reference guide
to learn about four tips when selling your life insurance policy!
Understand Your Policy
Time to read the fine print listed in your life insurance policy before you
sell it. Be sure to fully read any re?Ulations or restrictions it may have
because certain state laws may a ect the selling process.
Communicate With An Expert
Consulting with an expert about your policy can help you nd out other
aspects about selling it such as tax ramifications, fair market pricing and
other components to make sure you are not being taken advantage Ofc
Know Your Eligibility
Selling your life insurance policy Involves same eligibility requirements
like a diagnosis of a terminal illness or life-limiting health conditions,
Manage Your Debt
Try to eliminate your debt before you opt for the cash payout from your
life insurance policy. You may initially need the funds to cover medial
costs and day-to-day living expenses, so lessening or eliminating your
debt now can allow you to use the funds for their original purpose.
Did You Know?
If you receive a cash payout for your life insurance policy, you can use
those funds to pay for bills such as your mortgage, car and other daily
living expenses. Viatical settlements are the better option for financial
assistance rather than a reverse mortgage.