I never knew what Life Settlements were until I started researching it.
When I was a kid there were times when we barely had enough money to pay for food. My dad was in and out of work and we owed every in the world. At that point I would have thought that my dad would have let all of our life insurances lapse. I mean putting food on the table does seem a little bit more important that making premiums!
Little did I know that despite everything he was able to keep the premiums up and now I am in charge of a life insurance policy that he's invested in for my future and family.
Many people who have invested in policies and just can't afford to make the premium have the option of doing what's called Life Settlements.
Life Settlements allow you to get cash for your policy that you've invested. Basically, if you don't make your payment to your insurance provider you can lose all of the money that you've invested.
With Life Settlements they purchase the policy from you and you can actually receive a percentage of the money you've put into the policy.
If you're not able to afford things... this is a good option to get out - while you still have a sturdy investment.
Plus, it's a nice way to get a little bit of money.
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