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- A 76 year-old man owned a policy with an $8 million face amount and a $795,000 cash surrender value. He sold the policy for $2.3 million rather than let it lapse, cancel it or take the cash value.
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- A 55 year-old insured male had a $3 million term insurance policy that had been taken out several years earlier to cover a business loan for his company. Due to a change in his health, the business was sold and the loan was subsequently repaid. There was no longer a need for the term policy. The insured’s advisor suggested that rather than letting the policy lapse and receive nothing for it he could sell his policy and receive value where none existed before. The insured sold his term insurance policy through a life settlement and received $930,000.
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- An 83 year-old woman was ready to strip the policies of their cash value and cancel them because they were not performing to her expectations. But, her advisor understood that his client also needed some life insurance. He helped her sell the old policies for the cash value PLUS another $1.85 million in cash. These funds were partially used to purchase a new $9 million guaranteed death benefit product for just 1/3 of what his client was paying before. In effect, the client walked away with the same amount of insurance and extra cash in her pocket.
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- A 69 year old who had a term policy of $3 million and no cash surrender value sold the policy for $400,000.
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- A 67 year old man with a Universal Policy of $2 million, with a cash surrender value of $58,000 sold his policy for $215,000.
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