If you no longer want your existing life insurance policy or you want to get a better one, you can still make the most out of your life insurance through life settlements Palm Beach County. If you’re planning to sell your life insurance policy, here are some things you should know before deciding:
A part of selling your insurance policy is sharing your information. You will have to agree on authorizing access to your medical and other personal information so that your policy can be priced accordingly. This information will also be likely shared with lenders and third-party investors.
Common offers from life settlements Palm Beach County would be less than your expected death benefit amount, but definitely higher compared to the cash surrender value.
You will have to pay transaction costs, including consulting fee and broker commission. Before closing the deal, ask how much your estimated transaction costs are.
Depending on which state you’re at, the lump sum that you will receive from selling your policy can be taxable. It is good to ask a tax professional if your transactions have any tax implications.
This will depend on the laws of your state but there are some that will allow you to change your mind regarding selling your policy within a set amount of time.
At Flah & Company, you are sure to get the best deal from your life insurance policy. Get the life settlements Palm Beach County you deserve. Call us today for any inquiry or you can visit our website to know more about us!
