Retained Death Benefit
The life settlement market has been around for only a short time, all things considered, but we’re already witnessing wide-scale changes to the market. Retained death benefits are one such new addition. A revolutionary option for life insurance policy holders who are seeking life settlements, a retained death benefit can be a wonderful option for people to get the best of both worlds – and you might be surprised to learn about how just a retained death benefit can give you much easier management of your finances as you get older. At Sell Your Life Settlement, we’ve been helping our customers with life settlement transaction services for many years now, so we’re well-placed to handle any service request you have for us. With regard to retained death benefits, we are equally experienced – so you only need to get in touch with our team to access a group of knowledgeable professionals. More information on retained death benefits is available for your perusal below.
What is a Retained Death Benefit?
There are many different types of life settlement options to explore that ensure your policy doesn’t lapse in a worthless fashion, and a retained death benefit is a great option for many people – but what exactly is it? A retained death benefit is a life settlement where a life settlement company – like us – covers all or part of the monthly premiums for your life insurance policy, and in the event of a death benefit (a payout) we take only a portion of the policy payout while your beneficiaries receive the rest. This allows you to retain coverage while reducing (or eliminating) the premiums associated with your policy.
There are many advantages to retained death benefit transactions, and one of the biggest of these benefits is the flexibility you get when you make the agreement. You have various options with regard to how much of the premiums you’d need covered (and, therefore, how much of the death benefit you’d retain for your beneficiaries). You can get exactly the level of coverage that you need for your personal matters – no more, no less.
If you’re in your later years and you’re struggling to keep up with the insurance premiums that you’re committed to paying, it can be hard. You can’t afford to keep up the payments but you need to retain the coverage – that eliminates some of the life settlement transaction possibilities already – it’s a position many people find themselves in when they have reduced earning possibilities. A retained death benefit gives you the help that you need right away, without removing the death benefit that you’ll get later on entirely.
If you find all the information relating to your life insurance confusing, you’re far from alone – these matters can be a lot to manage even for people familiar with this type of information. Fortunately, you’re not on your own. With the help of our customer service representatives and advisors, you’ll have access to a treasure trove of information to make sure that you’re able to make an informed decision. More than anything, we’re concerned with assisting our customers.