Can You Sell a Whole Life Insurance Policy?

Can You Sell a Whole Life Insurance Policy?

Life expectancy in the United States is a difficult thing to measure. The hypothetical expected standard of life expectancy is calculated based on current mortality trends, which may shift dramatically throughout a person’s life. It also fails to take into account sudden accidents.

Yet current trends in life expectancy provide sociological researchers with fairly accurate statistics that enable them to effectively predict the life spans of many men and women living in America today. Research on mortality has provided life insurance companies with valuable data about their clientele, and the demographic of retirement-aged individuals has grown substantially with rising life expectancy rates.

Aging in poverty

As of 2019, men are expected to live an approximately 78 years, while women tend to outlive them at an average of 81 years. Regardless of sex, trends in health, wellness, and modern medicine have provided Americans with a higher quality of living and an increased mortality rate throughout the 21st century.

With a high percentage of Americans living longer than ever before, questions about financial security are understandably on the minds of plenty of retirees. Contrary to the romantic view of retirement that life insurance commercials often paint, featuring happy aging couples playing with their grandchildren and vacationing in exotic locations, the period of time after retirement is often a stressful and traumatic time for the millions of Americans living in poverty at 65 years of age or older.

There are 51.1 million retirement-aged adults nationwide, and senior poverty, once a rare and taboo topic, is on the rise. While not a pleasant topic to consider, plenty of older adults are faced with the decision to either sell their assets or continue their golden years living with little to no savings, picking up part-time work better suited to younger people, and existing with the constant question of how they are going to continue to pay their bills.

Selling life insurance

Those in poverty already understand that financial stress has deeply traumatic physiological and psychological effects, but now the science is starting to prove it. For those who are in the twilight of their lives or facing a terminal illness, medical bills piling up typically encourage stress and cause further discomfort at a time when relaxation and peace are most important.

Selling a large asset for a lump sum can seem like a very reasonable option, and it is definitely possible to cash in quickly and alleviate much of the stress associated with an uncertain income. One way of gaining access to funds you didn’t know you had is through selling an entire life insurance policy.

Many people are unaware that you can do this, but it is a route many elderly and terminally ill people are taking in order to gain access to finances they might not otherwise have during the final years of their lives. It is becoming increasingly popular to cash in quickly by selling your whole policy outright. However, it is important to keep in mind that not everyone qualifies.

Life settlement companies

Life insurance policies are sold through life settlement companies, which serve two demographics: Terminally ill patients and retirement-aged adults. Typically, to qualify for a life settlement, you must have a terminal illness, be at least 70 years of age, and possess an existing life insurance policy worth a minimum of $100,000.

Whether you are struggling financially, wish to pay off debt, or simply want to live out the rest of your life without financial stressors getting in the way, cashing in on your life insurance policy is a fast and simple way to benefit from funds you may not have been aware you could access.

If this is something you are considering, there is no reason to wait. It has never been easier to quickly assess your qualification for life settlement. For further information, you can visit and receive an estimate.