877.227.4484
Grandpa Joe Avoids High Premiums with a Life Settlement!
Posted: May 04, 2023 by John Welcom
Joe, a 70-year-old retiree, faced a challenging situation with his 20-year $1,000,000 term life insurance policy. The term conversion deadline was rapidly approaching, and future premiums were scheduled to increase from $3,030 to $58,000 per year. Joe told his advisor that he was both uncomfortable and unwilling to incur such a higher annual expense. Instead of allowing the term policy to lapse, the advisor suggested exploring the life settlement option with Welcome Funds.
Joe, a 70-year-old retiree, faced a challenging situation with his 20-year $1,000,000 term life insurance policy. The term conversion deadline was rapidly approaching, and future premiums were scheduled to increase from $3,030 to $58,000 per year. Joe told his advisor that he was both uncomfortable and unwilling to incur such a higher annual expense. Instead of allowing the term policy to lapse, the advisor suggested exploring the life settlement option with Welcome Funds.
We completed a quick policy appraisal, determined that it had market value and initiated our auction platform to sell the life insurance policy. We received 10 different offers. Ultimately, Joe sold his policy for the top offer in the market, which was $112,025.
In addition, the advisor benefited from a settlement commission and was paid on the term conversion from the carrier as well. The transaction was a big win for all parties involved.
| Policy's Insured | Male | Age 70 |
| Health Status | Poor |
| Policy Type | Term Life Insurance Policy |
| Face Amount | $1,000,000 |
| Annual Premium | $58,000 |
| Surrender Value | $0 |
Life Settlement Payout.... $112,025
Recent Blogs
The Importance of Privacy & Confidentiality in the Life Settlement Industry
Posted: February 28, 2025 by John Welcom
Learn how privacy and confidentiality are safeguarded in life settlements. Discover regulatory protections, compliance standards, and why working with a licensed broker like Welcome Funds en...
Year-End Review for Advising Seniors: Helping Seniors Navigate 2025
Posted: December 09, 2024 by John Welcom
Working with Welcome Funds, a licensed life settlement broker, ensures maximum payouts for policyholders. Detailed case studies reveal how their auction-based strategy and expertise secure s...
DOL Fiduciary Rule Compliance: Life Insurance Sales and Fair Market Value
Posted: October 28, 2024 by John Welcom
The DOL's new fiduciary rule emphasizes advisors acting in clients' best interests. Learn why exploring life settlements is crucial for maximizing the value of life insurance policies.
