TESTIMONIAL – TEST
THIS IS test
“I was able to keep life insurance coverage for my family and not have to continue to pay premiums.”
Brian had a $600,000 life insurance policy that he had taken out to provide for his wife and children. The increasing premium costs became unaffordable and he thought his only option would be to let the policy lapse. Then he learned that he could sell his policy and retain a portion of the death benefit. This was a win/win for Brian. He was able to keep $52,000 of life insurance coverage for his wife and children with no future premium payments.
“I received $130,000, for my life insurance policy which helped pay for my unexpected medical expenses.”
Edward purchased a $1 million policy to provide income protection for his wife, Margaret. After Edward’s health unexpectedly declined, he was forced to take an early retirement. Without Edward’s income, the premiums on their policy became more difficult to afford. The policy had no cash value so they looked for an alternative to lapsing it. They were able to sell Edward’s life insurance policy for $130,000, which allowed them to alleviate some of their financial concerns and continue to provide Edward with the medical care he needed.
“I sold my term policy and received $59,200 for a policy that otherwise had no value.”
James purchased a term life insurance policy for estate planning needs and income protection. Due to changes in his estate, he no longer needed the same level of coverage and didn’t want to pay the ongoing premiums. James was going to let his policy go when he learned he was able to sell it, even though it was a term policy with no cash value. He received $59,200 for a policy where he would have otherwise received nothing.
“I was relieved that I could help cover the cost of my ongoing medical expenses.”
June had a long term care policy that she had taken out years ago to help her family cover her ongoing medical expenses. She also owned a $500,000 life insurance policy. She no longer had the money to make premium payments on both the life insurance and her long term care policy.
June didn’t want her ongoing expenses to be a burden to her family. June did some research and learned that she was a candidate to sell her life insurance policy and receive a cash payment. June was able to sell her life insurance policy and use the cash payment of $65,500 to continue paying premiums on the long term care policy. June’s family was relieved that she would continue to receive the proper care that she deserves.
“I was able to maintain life insurance coverage and eliminate my costly premium payments to save my business.”
Mark, a restaurant owner, had a $500,000 life insurance policy. Due to increasing premiums, Mark was facing cash flow problems. He was forced to make the decision to either continue to support his restaurant or his life insurance policy. Mark was able to sell his policy and keep $138,000 in insurance coverage with no future premiums. He was able to put those funds previously used for his premium payments into his business.