Reason #8 to Sell Your Life Insurance… No Estate Taxes
A Life Settlement is the sale of a life insurance policy to a third party for a value in excess of the cash surrender value, but less than the death benefit.
Life Settlements represent an important solution for a growing number of people who thought they were stuck with a life insurance policy they no longer need.Many people do not realize a life insurance policy is their personal property and can be sold.
Today, 99.8% of estates owe no estate tax at all, according to the Joint Committee on Taxation. If you purchased life insurance to pay the estate taxes you thought you would owe, selling life insurance could be a solution for you.
See what the value of your policy may be for a life settlement by using our Magna Life Settlement Calculator.