How A Life Settlement Impacted My Family
Years before he joined the life settlement industry, Magna’s Senior Vice President Clay Gibson was impacted by his grandfather’s decision to sell his life insurance policy. In a personal essay, Clay shares how his grandfather’s life settlement made an impact on his family.
“My grandfather was in his late ‘70s in 2002 and even though he had some minor health issues he realized he was likely to live for quite a few more years. Decades earlier he had taken out two life insurance policies, each worth $1 million, one in his name alone and one in the name of he and my grandmother. If they held onto the policies, they were going to have to start paying increasingly expensive premiums again.”