Life insurance should serve as an investment — with some level of lasting guarantee. Proper planning both before and after purchasing a policy can help ensure the policy does not fail or lapse. Planning often includes in depth conversations about which type of policy can best meet future needs, whether the policy can be renewed, and what actions need to be taken if the premiums become unaffordable.

For some policyholders, their financial situation changes and they cannot maintain the payments. In these cases, especially for seniors, selling the policy for fair market value can be a valuable option. Many seniors choose to use the funds for expenses such as long term care.

In the article “Built to last: tips for preventing life insurance failure”, LifeHealthPro recently detailed tips for ensuring life insurance continues to be a positive investment. Learn more here.

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