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Life Settlement Services in Naples, FL

A life settlement involves selling an existing insurance policy to a third party for a one-time liquid payment. The payment is usually more than the surrender value, but less than the party’s death benefit. Upon completion of the sale, the buyer then becomes the policy’s primary beneficiary. This means that they then assume the death benefit when the original policy holder passes. There are many reasons why a life settlement may need to take place, including retirement, unaffordable premiums, and family emergencies. At Generational Strategies Group, LLC, we’ll go over your life insurance policy and settlement options in great detail to assure each aspect is carefully considered and filed. Usually, when selling a life settlement, it’s a troubling time. We take your family’s cares and concerns into consideration while we work tirelessly to guarantee you clear and concise work. Contact us today to schedule a consultation.

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How Does It Work?

If you can no longer afford to keep your life insurance policy, you can sell it to an investor. The payment is exempt from taxes for most policies. Basically, you transfer ownership of your policy to this investor. It’s important to note that life settlements usually net the seller more than the policy’s value, but less than the payout upon death. When you sell your policy, you transfer every aspect to the new owner. This includes premium payments and death benefits. Most of the time, people tend to sell their policies only if they do not have a known life-threatening illness. Some may need more money during their retirement. Often, a cash payout may be exactly what a party needs to continue to live instead of passing on their benefits. Some extreme cases can happen, such as the death or illness of a family member, where a party may need to sell their policy to cover medical expenses.

Contact Us Today

No matter your situation, the team at Generational Strategies Group, LLC will advise you on your best course of action. Life settlements can be tricky and complicated, considering their topic and value. But they don’t need to be with a professional team on your side. Call our office with questions about your life settlement. We’ll be happy to sit down with you and discuss your options.

We Are Experts in All of Your Estate Planning Needs