Senior Life Settlements – 3 Questions to Ask Before You Sign on the Dotted Line

Senior life settlements are all the rage these days. After all, it’s a win-win for everyone involved. Senior citizens can use these deals to get out from the burden of paying expensive premiums every month, and investors get a good return on their investment.

But before you sign on the dotted line, you need to make sure you’re totally comfortable with your senior life settlement deal. That’s why you need to ask these 3 questions before everything is finalized:

1. “Is this payout high enough?”

This is, by far, the biggest question that you need to ask yourself. A life settlement investor isn’t going to offer you the highest amount right off the bat. Instead, he’s going to try and fetch himself a bargain. So, before you sign on the dotted line, make sure you’re getting enough money. If you’ve already negotiated and you’re still not happy with your payout, it may be time to find a new investor.

A good senior life settlement deal will give you enough money to pay off any debts you might have. It will also provide some money to be passed onto your heirs, since they’ll no longer have the benefit of your life insurance policy.

Remember, senior life settlements are worth more than agreements with younger people because the investor is going to be able to collect on the policy sooner. As a senior citizen, you have lots of leverage; be sure to use it!

2. “Am I prepared to do a life insurance settlement?”

Again, this is another question you need to ask yourself. Entering into a senior life settlement means giving up all of the rights to your life insurance policy. If your heirs are really counting on that payout to manage your final expenses, it may not be in your best interest to sign on the dotted line.

However, a good life insurance settlement deal can provide you with enough immediate cash to erase any worries you might have. It all goes back to Question #1!

3. “Where can I find a good life settlement broker?”

If you’ve never gone through the life insurance settlement process before, you might be a little nervous to handle a deal of this magnitude on your own. That’s where a good life settlement broker comes in. These people work as middlemen – to help you find good investors and to guide you through the process. That way, you don’t have to worry about “going it alone”.

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