Putting the Life in Life Insurance: How and Why to Use Your Policy While Living
Join Eric Brotman, CFP® and Jamie L. Mendelsohn, EVP, Ashar Group for this FREE webinar! Your life insurance policy is more than just a safety net – it’s a valuable asset that can help you fund retirement, healthcare, or other financial goals. In this webinar, we’ll explore how life settlements and other strategies can unlock the value of your policy when it’s no longer needed for its original purpose. Join us to learn how you can turn your policy into a powerful financial resource for the next stage of life.
Key discussion points:
- The risk of neglecting life insurance (such as policies lapsing, underfunding, or becoming financially burdensome)
- How changing personal and financial circumstances may affect the need for or value of a policy
- The importance of understanding policy terms—especially for term insurance with conversion privileges and universal life policies with flexible premiums
- How insurance can support family, estate, and retirement planning, or philanthropic objectives
- Case studies are presented, illustrating real-life scenarios where clients benefited substantially from selling policies rather than surrendering them.
Key Takeaways:
- Life insurance is an asset—it should be reviewed and managed regularly as part of your overall financial strategy.
- Term and permanent life insurance serve different purposes, and both can potentially be monetized during your lifetime.
- Policies can be used while living: borrowing against them, using for long-term care, or even selling them on the secondary market through a life settlement.
- Never surrender or lapse a policy without exploring all your options; policies can have hidden value.
- Work with qualified professionals to understand your policy, your needs, and the possible exit strategies to maximize its potential benefit.
- Life settlements can create significant value for policyholders, sometimes resulting in payouts many times higher than surrender value.
- Protect your insurability—if you’re young and healthy, consider securing coverage to preserve future options, even if your needs change.
- Common mistakes include ignoring policies, underfunding universal life, and misunderstanding conversion rights.