Colton Groome Advisors can help you create value out of an existing life insurance policy.
MOST INSURANCE AGENTS AND ADVISORS OVERLOOK LIFE SETTLEMENTS AS AN OPTION.
of financial advisors admit they lack knowledge about life settlements. ₁
of policy face value lapses by seniors over age 65 each year. ₂
8 out of 10
policy owners didn't know they could sell their policy. ₃
What options are there for your life insurance policy?
Keep the Policy
- Continue the insurance coverage and premium payments
- Restructure the coverage and premium
- Take a loan or withdrawal from the cash value
End the Policy
- Surrender the policy for cash value
- Replace the current policy through an exchange
- Sell the policy through a life settlement opportunity
How does selling a policy bring additional value?
- Life settlement is the sale of an existing policy to an institutional third party
- It provides a source of cash that can fund current financial needs today
- It creates additional proceeds beyond the surrender value
- It reduces the expense of current and future insurance premiums
It may be a better solution than other options
When Does selling a policy make sense?
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- The Hidden Value in your Life Insurance, 2016, http://www.lifehealthpro.com/2013/09/16/
- Life Insurance Settlement Association, 2015, https://www.lisa.org/life-policy-owners/consumer-blog/blog/2015/02/25/lapsed-life-insurance-policies-an-astounding-number
- The Life Settlements Report, 1/31/2019, https://pipeline.thedeal.com/article/14851134/index.dl
Valmark Securities supervises all life settlements like a security transaction and its’ registered representatives act as brokers on the transaction and may receive a fee from the purchaser. Once a policy is transferred, the policy owner has no control over subsequent transfers and may be required to disclosure additional information later. If a continued need for coverage exists, the policy owner should consider the availability, adequacy and cost of the comparable coverage. A life settlement transaction may require an extended period to complete and result in higher costs and fees due to their complexity. Policy owners considering the need for cash should consider other less costly alternatives. A life settlement may affect the insured’s ability to obtain insurance in the future and the seller’s eligibility for certain public assistance programs. When an individual decides to sell their policy, they must provide complete access to their medical history, and other personal information.
Certified Financial Planner Board of Standards Inc. (CFP Board) owns the certification marks CFP®, and Certified Financial Planner™, in the U.S., which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.
Horizon Investments, LLC is a separate entity from Valmark Securities Inc. and Colton Groome & Company.
Fee-based Financial Planning and Asset Management Services offered through Colton Groome Financial Advisors, LLC, an SEC Registered Investment Advisor. Securities offered through ValMark Securities, Inc. Member FINRA, SIPC, 130 Springside Drive, Akron, Ohio 44333-2431, 1-800-765-5201. Colton Groome & Company, and Colton Groome Financial Advisors, LLC are separate entities from Valmark Securities, Inc. Colton Groome & Company is a separate entity from Retirement Plan Advisory Group.