Already on ArticleSlash?

Forgot your password? Sign Up

Sell Convertible Term Insurance - Selling Term Policies

 


Visitors: 165

There is a very active buy and transfer market for people looking to sell a term life insurance policy that is convertible. This is where a policyholder looks to sell their term or other insurance for a set cash amount and transfers the life contract to the buyer in exchange.

This is not a new market, but it is a growing one. Specialist agent companies will work with the upper tier of life insurance settlement brokers to provide the selling clients with the education needed so the selling customer understands the process and the highest price for their term policy can be received.

Age

The age of the insured should be 55 and older. An age below that will not attract the best buyers or the top price. This is because (to be blunt) the seller has too many years to live if they are perceived to be too young and thus the buyer of the convertible term will have to wait much longer to collect the face value of the issue. This is why the age of the person selling is an important factor to determine price value.

Face Amount - Death Benefit

The market the top companies look for including the affiliates of American Investment Training is $250k face amount or minimum death benefit of $250,000. If you have a policy that is a little less, we can most likely find an attractive buyer. The death benefit is the amount of cash paid out to the beneficiary upon death of the insured. When selling life insurance, the beneficiary becomes the buyer or choice of the new buyer.

Cash Payout To Sell

Payouts to people looking to sell their term, universal life or other policy in cash can be anywhere from $70,000 to hundreds of thousands of dollars or more. Much of the cash payout amount is based on age, face amount, type of insurance the person is looking to sell and any outstanding loans that are in place against the policy.

Reasons People Sell Life Insurance

There are many reasons why a person would look to sell a term life policy or other insurance contract.

Quality of Life - Having the cash to live a better life now

Premiums too Expensive - Sometimes the premiums become too costly vs. the benefit of the policy itself. Getting the money up front could be a more attractive option for someone looking to sell

Policy no longer Needed - Life insurance like other issues may outlive it's primary usefulness vs. using money now

There are many different types of life contracts that can be used including Convertible Term, Universal Life, Whole Life, Endowment Plans, and more. If you are over the age of 55 have a policy with a face value of $250k or more, you can contact a company for a free analysis and quote on what your issue may be worth. Don't let a policy lapse since you have options to gain cash for it.

Money For Life Insurance to learn much more.

Nick Hunter is the President of American Investment Training. One of his company services is specializing in assisting insurance holders on how to Sell a Life Insurance Policy through the secondary market. His company works with major insurance companies throughout the world.

(582)

Article Source:


 
Rate this Article: 
 
How Can I Get Rid of My Acne - Short Term, Medium Term, and Long Term
Rated 4 / 5
based on 5 votes
ArticleSlash

Related Articles:

Convertible Term Life Insurance Rates

by: James J. Robinson (June 19, 2008) 
(Insurance/Life Annuities)

Whole Vs Term Life - What is the Difference Between These Two Insurance ..

by: W A Henderson (September 07, 2008) 
(Insurance/Life Annuities)

Long Term Care Insurance - How To Buy It From Your Other Policies

by: Chimezirim Chinecherem Odimba (August 27, 2007) 
(Insurance/Long Term Care)

Long-Term Care Insurance Policies Pay Benefits

by: Dane Petchul (August 05, 2008) 
(Insurance/Long Term Care)

Long Term Care Insurance Policies and the Vocabulary Used Within the Plans

by: Dane Petchul (July 13, 2008) 
(Insurance/Long Term Care)

Term Life Insurance With No Physical Exam Policies From Small to Large!

by: Marilyn Katz (June 15, 2008) 
(Insurance/Life Annuities)

Long Term Care Insurance LTC Insurance Policies Are Enhanced With Care ..

by: Allen Hamm (July 08, 2008) 
(Insurance/Long Term Care)

Arizona Term Life Insurance 5 Steps to Finding Cheap AZ Term Life Insurance ..

by: James J. Robinson (July 14, 2008) 
(Insurance/Life Annuities)

Colorado Term Life Insurance Tips 5 Ways to Find the Best CO Term Life ..

by: James J. Robinson (July 23, 2008) 
(Insurance/Life Annuities)

How Can I Get Rid of My Acne - Short Term, Medium Term, and Long Term

by: Tristan L. (November 23, 2008) 
(Health and Fitness/Acne)