Selling Your Life Insurance Policy Gives You Independence

Life Settlements Give You Independence
Seniors have more options than ever in their retirement years, especially if they take care of themselves and stay healthy. Aleksander Doba paddled from New Jersey to France in a solo kayak when he was 70. Sister Madonna Buder completed an Ironman Triathlon—a 2.4-mile swim, 112-mile bike and a full marathon—at the age of 82.

But even for those Americans over 65 who aren’t inclined to spend months on the open water or train for hours a day, retirement offers plenty of opportunities for independence and adventure. Some seniors try RV travel, some take to the roads on motorcycles, others take up painting or learn to play a musical instrument. The most valuable commodity for seniors is freedom—freedom to live the senior years as they choose. And one aspect of that freedom, for those seeking financial options, might be a life settlement.

The retirement years can be viewed as a season of new opportunities, and often an unwanted life insurance policy can be transformed into a source of income. It provides a double benefit for a senior—removing the burden of insurance premiums and creating a windfall that can help pay for new experiences during the golden years. Even if a senior only needs funds to pay medical expenses, a life settlement will make them feel financially empowered and eliminate an insurance policy that wasn’t serving his or her best interests.

Another appealing option of the life settlement process is the fact that seniors can pursue a settlement without the help of a financial advisor or other advocate. By starting with two simple steps—entering information into Magna’s life settlement calculator and scheduling a consultation with a Magna specialist if the calculator indicates a settlement would be beneficial—policyholders can take charge of their finances.

With fewer family and professional obligations, seniors can thrive in their retirement season when they take charge of their time, pursue new interests and keep family ties as a priority. This season of independence and risk-raking takes many forms, but one empowering move is the investigation of a life settlement. When a life settlement is a good fit, it can enhance retirement life considerably—even for those who aren’t looking to plan a solo kayak trip from one continent to another.

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