Why It's Important To Secure Multiple Offers For Your Policy

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A Real Person’s Experience Selling Their Life Insurance Policy For Cash

Before arriving at Windsor, a recent client of ours had nearly sold their policy to the first company that made an offer.

  • Age: 73
  • Face Amount: $650,000.00
  • Health Status: Significant Impairments

Early in the process, offers from various companies that buy policies directly reached 15% of the face amount, about $97,500.

After reviewing the policy using Windsor’s life settlement calculator,  Windsor projected this same policy might secure offers between $208,000 and $468,000.

By hiring Windsor, this person was able to receive offers from all of the major life settlement companies as well as a private network of buyers, driving the price up well into that range.

By allowing some time to field multiple bids, the final offer far exceeded the initial offer of $97,500, even after all fees were paid.

Despite Market Growth, Consumer Awareness Of Life Settlements Remains Low

It’s estimated that about $120 billion worth of qualified life insurance policies lapse annually. This is a terrible shame. 

Policyholders over age 75 or living with a terminal illness allow their policies to lapse mostly due to increasing premiums and they’re generally unaware of the life settlement option. For this reason, some of our clients complete the life settlement process and feel strongly that if their story can help even one person then they’re happy to share.

NYC resident Ted Muller first came to Windsor Life Settlements after his doctors diagnosed him with a terminal illness, estimating he had about 18 months to live. He documented his life settlement experience with Windsor and selling his policy for above his initial asking price.

However Ted’s case is not common.  In most cases, despite the market growth in recent years, policyholders are not aware of the life settlement marketplace and allow policies to expire. 

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