Life Settlement Calculator Provides Instant Cash Payout Quote for Seniors
According to the Insurance Studies Institute, 90 percent of seniors would consider a life settlement if they had more information about the option. More than half a million life insurance policies are allowed to lapse each year, and many of those policyholders might have qualified to receive a payoff in a life settlement.
But what tools allow more individuals access to life settlement information? One informative first step tool is an effective life settlement calculator like the improved version developed recently by Magna Life Settlements (“Magna”).
A life settlement calculator is an online tool designed to give seniors and their loved ones an instant assessment of their potential eligibility for a life settlement. The life settlement process involves a series of more involved steps, but the calculator is an excellent initial filter to let an individual know whether he or she could pursue the option further.
To use the Magna calculator, you only need to enter four pieces of information:
- year you were born
- face amount of your policy
- health status compared to others your age
- email address
After you complete those simple steps, our calculator will estimate your payout value in a potential life settlement.
At Magna we are dedicated to providing the best resources to consumers, and it was with that goal in mind that we modified our original life settlement calculator to ensure more accurate results. It is Magna’s belief that arming seniors with market knowledge of their policy’s value will help them make a more informed decision about their personal finances.
To calculate your potential life settlement payout in just a few minutes, start by visiting Magna’s Life Settlement Calculator.
Based on your responses, Magna will assess whether a life settlement is likely or not. The next screen will give you a few different options. If your situation is unfavorable to a life settlement, you will still have the opportunity to schedule a call with a Magna representative to ask more questions. If you are a good candidate for a settlement, you can either schedule a call or take a prequalification quiz to see if you could move forward and start the process.
Magna’s life settlement calculator is more accurate and efficient than ever, but because it still represents an educated guess based on limited inputs, Magna has also streamlined its application process to allow consumers to receive offers in a timely manner. The calculator, as well as other information about the benefits and steps of life settlements, are easily accessed on our blog to help provide guidance about dealing with an unneeded life insurance policy. With just four pieces of information, a senior or their loved one can be on the road to turning future insurance policy payout into a current cash flow asset.
*Comments provided in this post are for informational purposes only and should not be construed as financial, legal or tax advice, recommendations or solicitations. Please consult your financial, legal or tax professional with questions related to the information presented, or for advice as to whether a life settlement is right for you.