Selling Your Life Insurance Policy

Sell your policy

It may make financial sense for you to Sell all or a portion of your existing life insurance policy instead of cancelling it for its cash value or holding it until your death.

Life settlement

Selling an existing life insurance policy to a third party is called a Life Settlement or Viatical Settlement.

Retained death benefit

You may also have the option to only sell a portion of your policy while Retaining a portion of your death benefit for your beneficiaries - this is called a Retained Death Benefit.

In many situations the answer is yes. While you previously may not have been familiar with this option, there are a variety of situations where it may make financial sense for you to Sell all or a portion of your existing life insurance policy instead of cancelling it for its cash value or holding it until your death.

Selling an existing life insurance policy to a third party is called a Life Settlement or Viatical Settlement. In a Life Settlement the Policy Owner sells the policy for a lump sum for an amount that is typically more than the cash value of the policy but less than the death benefit. The new owner then becomes the beneficiary of the policy and takes over the premium payments. Life Settlements may done on close to all policy types include Universal Life, Whole Life, Variable Life and Term Insurance.

You may also have the option to only sell a portion of your policy while Retaining a portion of you death benefit for your choosen beneificaries.

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You may no longer want or need a large Life Insurance policy if you bought it to protect your children and they are now financially independent.

Policy premiums can become a financial burden or cost prohibitive.

Or maybe you simply would like a lump sum cash payment to use for health care, living expenses or travel.

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"IMS worked hard to help educate us about the process and the suitability of a life settlement. Once we got the process started he was transparent and professional."

- Maggie M.

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Considerations When Choosing a Life Settlement

Before you decide to sell your policy, evaluate your need for the coverage and determine if there are ways to make coverage more affordable, such as reducing the policy benefit.

If you do decide to move forward with a Life Settlement, consider using an experienced Life Settlement broker or company that specializes in this area. IMS Settlements will help you confirm that a Life Settlement is an appropriate option for you - and help ensure that you receive the highest possible value for your policy.

IMS Satisfaction Guarantee

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We hold ourselves to the highest standards of Service and Professionalism so if you don't like our work or our offers - let us know in writing and we will turn over your file.