Life insurance policies have traditionally played a central role in estate planning and are sometimes among a client’s most valuable assets. But situations evolve over time. Needs change, premiums can become increasingly expensive, and policies may fail to meet expectations. In fact, studies show that more than $112 billion of life insurance is lapsed or surrendered by seniors over the age of 65 every year.
It doesn’t have to be that way. Today’s marketplace provides options ― like life settlements or secondary market transactions ― that are much more financially sound than surrendering your policy or simply walking away from the premiums you’ve paid.
TR Estate Planning can help policy owners reclaim their investment dollars by arranging to sell unwanted or unnecessary life insurance for more than their surrender value. Life settlements have put millions of dollars back in the hands of policyholders, allowing them to dedicate those funds to retirement plans, medical costs, or other more pressing financial priorities.
Learn how others have found success in transitioning their universal life, whole life and even term policies in our Life Settlement case examples.
Deciding how life insurance policies can serve your estate planning goals is a complicated undertaking. TR Estate Planning has the expertise to guide you.