Most of us buy life insurance policies to protect our loved ones. In many cases however, life insurance policies may be purchased as part of a estate tax planning strategy or a corporate buy/sell agreement that is no longer relevant. Or, you may own a 10, 15 or 20 year term policy that is coming close to the final term date where thereafter the policy will have zero value!
What the vast majority of people do not know is you may have an opportunity to sell your policy for a cash offer! There are no restrictions on how you use the cash you receive for selling the policy. Some sellers have applied the cash to long term care cost, others apply it to supplement their daily living expenses, or assisting their children or grandchildren.
To begin, the insured typically needs to be 65 plus to attract a possible offer for their policy, unless their is medical condition the younger insured may have. The policy size should be a minimum of $100,000.
Our guest on episode 15 is Oleg Eydelman, of Life Insurance Settlements Inc. Oleg’s firm assists policy owners with obtaining a no obligation offer for their life policies. You can reach Oleg to discuss your policy at 866 326 5433 or at firstname.lastname@example.org.
Coming up on the next episode of Financially Empowered, we will discuss investing in fix and flips. Boy do I have a personal story on this subject to share with you. There are so many steps to take when investing in this area, beginning with working with experienced contractors you research thoroughly before signing any contract, the importance of permitting, and of course, obtaining the best financing available for the project. We will be joined by a lender from RCN Capital, a national real estate lending firm with a focus on fix and flip investors.
Thanks for your feedback on the episodes so far! Listener growth continues both in the US and internationally! Please reach out with any questions or comments on the show to me via either Instagram or Twitter @ralphspodcast, on Facebook at Financially Empowered, or through email at email@example.com.
Coming up over the next couple of weeks I will also be launching a Youtube channel where I will answer listener questions and post videos on topics we will be covering on the podcast as well as my opinion on other financial topics in the news.
Please subscribe to the podcast here in the site, at the bottom of each page you will see buttons where you can subscribe. i would be grateful if you choose to share the podcast with your friends and family as well through your social media channels.
Thanks for taking time to listen!!