Useful Insurance Information

Here is an email that I received this morning. The main thing that’s wrong with it is that my junk-mail filter didn’t weed it out and consign it to the trash-box as it arrived, but there is such smart software about these days that everything is possible.

The email deals with what is becoming quite common practice in the insurance world – the buying back of life insurance policies. The deal is called a “Life Settlement” and is directed towards the seniors and aged amongst us who have life insurance policies bought when they were young or when they had the cash to buy these policies. But things change and these policy holders are now ill, or having a hard time finding the money to pay the premiums on the policy even though they are sitting with life insurance policies that are worth a lot of money.

So some of the insurance companies, together with many unscrupulous operators are offering to buy back the policy now, meaning that the policyholder receives part of his life settlement while he is still alive and can spend and enjoy the money as he likes. The life settlement offer is not for the full value of the policy, but for part only, meaning that the policyholder will get say half or a bit more of the value of the policy – not bad if it was a one million dollar policy – and the buyer of the policy under the life settlement scheme gets the other half million – not a bad deal either.

What’s the drawback? Sell your policy back to the life insurance company only and not to anyone else – especially not to those who send out emails like the one below.

“YOUR LIFE INSURANCE POLICY COULD BE SOLD LEGALLY TO A FINANCIAL INSTITUTION FOR IMMEDIATE CASH, OTHERWISE KNOWN AS A LIFE SETTLEMENT.

Are your premiums payments too high, excessive or just unaffordable?
Has there been a significant change in your personal life such as a predeceased spouse, divorce or children who are independently financially secure and no longer require your life insurance?
Do you have a need for immediate funds?
Do you wish to use the payout to purchase even larger and superior life insurance?

IF YOU ANSWER YES TO ANY OF THE QUESTIONS ABOVE THEN A LIFE SETTLEMENT MIGHT BE THE RIGHT SOLUTION FOR YOU!!!
FIND OUT HOW YOU CAN TURN YOUR LIFE INSURANCE POLICY INTO A LUMP SUM PAYOUT.”