Life settlements can be a complicated industry to understand for those new to the practice. However, the number of life insurance policies nationwide continues to grow year after year. According to PolicyGenius, about 54% of Americans are currently holding policies. For this reason, it’s important to understand what your options are pertaining to life settlements and how to explain it to a family member or loved one without a policy.
Many misconceptions exist about the life insurance industry, as well as life settlements. According to a 2021 study performed by PolicyGenius, just over half of Americans currently hold some form of life insurance. With the majority of the population taking up this investment, it’s important that policyholders understand all of their options as it pertains to the matter. In this blog, we’ll highlight some of the most common myths associated with life insurance and settlements.
Do you have a life insurance policy that you’re about to let lapse? Maybe you’re thinking about surrendering the policy for its cash value. Are you 65 years or older?