Get more for a life policy

People often let a life insurance policy go for little or nothing at all, when they could have got more. Don't let a life policy go until its value is known.

When an insured reaches age 60, or any age when there is a chronic illness, a life insurance benefit that is no longer needed may be worth more when sold to a third-party. This is called a "life settlement."

Life settlements are regulated by state governments and handled by an agent of the buyer or the broker of the policyowner.

No more worries about premiums after a settlement. The buyer takes over, paying cash now, or sharing some of the benefit later.

Buyers are willing to risk losing money from the sale of a policy when the reward is more than they can earn elsewhere. But buyers don't have pay fair value for your policy. That is why you need a broker to help you.

Policy owners are often forced to sell when:

• They no longer afford the premiums;

• A divorce, separation or death occurs;

• The policy can no longer pay for itself; or

• Cash is needed more than the benefit.

But an owner should sell a policy when:

• Its purpose has ended; or

• The cost may be more than the benefit.

A policy can lose value if you are not prepared. My services include:

• A review of your policy from any insurer or agent;

• Advice on fixing issues affecting a policy's value;

• Finding settlement offers without obligation; and

• Help growing a new benefit from a settlement.

A policy review protects you, your policy and it's free.

Call Mark Dierolf @ (831) 753-0507

Remember, don't let a policy go until its value is known.