You’re about to surrender the policy
Before you sign a surrender form, find out whether a buyer would pay more. We’ll compare the two numbers side by side, so you can choose the option that puts more money in your pocket.
Life settlements
Whole Life
Your insurance company will pay you its cash surrender value, but that may not be the most your policy can bring. A life settlement lets buyers compete for it, and the offer may come out ahead.
Overview
Whole life is permanent insurance with level premiums, a guaranteed death benefit and a cash value that grows over time. Because it builds cash value, many owners assume surrendering is the only way to cash out. But the surrender value is set by your insurance company alone, and it often reflects only part of what the policy is worth on the open market.
With a life settlement, you sell the policy to a third-party buyer for a lump sum, and they take over the premiums. For many whole life owners, especially those who are older or have health changes, a settlement offer can exceed the surrender value.
Life Settlements Now reviews your policy, compares its surrender value with what buyers may pay, and presents it to multiple buyers to find the strongest offer. The review is free, and you’re under no obligation to sell.
Symptoms
When to consider cashing out
Premiums have become a burden
Whole life premiums are often among the highest of any policy type. If they no longer fit your budget, selling the policy ends the payments and turns your coverage into cash you can use.
You no longer need the coverage
A paid-off mortgage, grown children or a sold business can make the policy unnecessary. Selling it frees up that value for retirement, medical costs, long-term care or simply enjoying life.
You’re facing a serious illness
If you or the insured have a terminal or chronic illness, a viatical settlement may pay substantially more. It can give you access to the policy’s value when it’s needed for care.
Our process
How cashing out works
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Tell us about your policy
We start with your whole life policy, why you’re thinking of cashing out and what you’d like the money to do. It’s a no-pressure conversation with no obligation.
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We compare your options
We review your cash value, premiums, face amount and any policy loans, then explain how a settlement may compare with surrendering the policy to your insurer.
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We find the strongest offer
We present your policy to multiple licensed buyers so they compete for it. You see every offer side by side with your cash surrender value.
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You decide whether to sell
If an offer beats your surrender value and you accept it, we guide you through closing. If not, you owe nothing and keep every option open.
Scope
What the service covers
The policy review is free. If your policy sells, our compensation is disclosed in writing before you sign anything.
Request service- Free policy review
- Marketing to multiple licensed buyers
- Surrender value comparison
- Offer review and comparison
- Policy qualification guidance
- Guidance through closing paperwork
Can I sell a whole life policy?
Yes. Whole life policies can be sold in a life settlement, just like universal and term policies. Buyers look at the face amount, the premiums and the insured’s life expectancy to decide what to offer.
Will a settlement pay more than my cash surrender value?
Sometimes, but not always. Whole life builds guaranteed cash value, so the surrender value can be substantial. We compare the two side by side, and you only sell if the offer is worth it.
What if I have a loan against my policy?
You can usually still sell. Any outstanding loan is paid off from the sale proceeds, and you receive the rest. We’ll factor the loan into our review, so the numbers you see are accurate.
Is a viatical settlement different?
Yes. A viatical settlement is for policyholders with a terminal or chronic illness, and it often pays more than a standard life settlement. If that applies to you, we’ll explain how the process differs.
Related services
Often booked alongside this.
Life Settlements
Clear guidance for seniors and policyholders considering life settlements and alternatives to letting a policy lapse.
Viatical Settlements
Clear guidance for policyholders considering viatical settlements and alternatives to letting coverage lapse.
Universal Life
Clear guidance for understanding universal life policy options.
Before you decide,
get clear information.
If you are considering surrendering a policy or allowing it to lapse, a consultation can help you understand life settlements and other available alternatives.
