GRANDPA JOE AVOIDS HIGH PREMIUMS WITH A LIFE SETTLEMENT!

Joe, a 70-year-old retiree, faced a challenging situation with his 20-year $1,000,000 term life insurance policy. The?term conversion ?deadline was rapidly approaching, and future premiums were scheduled to increase from $3,030 to $58,000 per year. Joe told his advisor that he was both uncomfortable and unwilling to incur such a higher annual expense. Instead of allowing the term policy to lapse, the advisor suggested exploring the life settlement option with?Welcome Funds .?

We completed a quick policy appraisal, determined that it had market value and initiated our auction platform to sell the life insurance policy.?We received?10 different offers.?Ultimately, Joe sold his policy for the top offer in the market, which was $112,025.

In addition, the advisor benefited from a settlement commission and was paid on the term conversion from the carrier as well. The transaction was a big win for all parties involved.

Policy's Insured: Male | Age 69

Health Status: Poor

Policy Type: Term?Life Insurance?Policy

Face Amount: $6,000,000

Annual Premium: $148,000

Surrender Value: $0

Life Settlement Payout....?$2,650,000

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