Retirement is supposed to be about living your life free of the hassles that plagued you prior to your retirement. But, due to tough economic times, medical bills and other issues, more and more senior citizens are finding their retirement to be a time of stress.
An Option for Senior Citizens
One option by which many senior citizens alleviate their financial anxieties is a life settlement. A life settlement is when someone sells their life insurance policy to an investor for up to 8 times (on average) their policy’s cash surrender value—but less than their policy’s value upon their death.
Why It Makes Sense
If, for whatever reason, you no longer need to be concerned about your family’s security, it makes sense to enjoy the fruits of your life insurance investment while you are still alive. You may also find that cashing in your life insurance policy is a prudent way to eliminate medical bills that made it possible for you to extend your life or improve the quality of your life.
Life settlements provide a previously unrecognized way for people to get the money they need or want fast. The best part is that your investment is ready and waiting for you. You will sacrifice some of the net payout amount (available at your death, so long as you keep your policy active by making more premium payments). However, remember, you personally aren’t going to enjoy or use your policy’s death benefit. Don’t let retirement be a time of unnecessary worry and concern. Look into a life settlement and enjoy the rest of your life in comfort!