Sell My Life Insurance Policy for Cash – Florida

Sell My Life Insurance Policy for Cash – Florida

If you’re aged 65 or older and facing health challenges, there are companies interested in purchasing your life insurance policy.

Much like any other asset you possess, your life insurance policy can be sold to a third party for an amount greater than its surrender value but less than its face value (the death benefit). This can provide you with funds to use for your important needs, whether it’s for travel, paying off debt, or gifting to loved ones.

What is a Life Settlement?

A ‘Life Settlement’ is the term used when you sell your life insurance policy. Similar to a reverse mortgage, a life settlement can be a valuable financial tool for seniors seeking additional resources during retirement.

How a Life Settlement Works – Sell My Life Insurance Policy for Cash – Florida

When you sell your policy, the purchaser becomes its owner and beneficiary, and the policy remains in force. The new owner continues to make premium payments until your passing and collects the death benefit, similar to how the insurance carrier managed the policy when you initially purchased it.

The purchaser will assess your current health status by reviewing your medical records to estimate your life expectancy and determine the policy’s value. Generally, the longer your life expectancy, the lower the policy’s value.

Determining the Worth of Your Life Insurance Policy

The true economic value is the most equitable price for sellers. Since the lifespan cannot be predicted in advance, it’s impossible to determine the exact economic value for any individual policy at a specific time.

However, experienced underwriters can provide prudent estimates of life expectancies, which serve as a guideline for estimating the policy’s investment ‘horizon.’ When combined with other factors like the premium amount, face value, and discount rate, a reasonable approximation of the policy’s true value can be determined.

Mintco Financial Life Insurance Settlement

While there may be reservations, life settlements can remain a viable solution for some, offering access to funds during crucial times.

When time is of the essence, a life settlement can ensure that money is not in short supply.

To explore the possibilities of a Life Settlement, please contact us today at 813-964-7100 or 716-565-1300, or email us at You can also visit our website at