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I was referred to Jim, a 79-year-old male with numerous heart related problems.  He had been a very successful business man in the past but had several severe financial challenges.  When I called to explain to Jim of what I do,  Jim was almost in tears and said... "Why could't you have called me six months ago?"  Jim explained he had a $5,000,000 policy that he had put over $ 1,000,000 in a 20 year period.  A few months ago after all cash value was depleted, he let the policy lapse because he had no knowledge that he had any other options.  What a comfortable retirement could have been created through a life settlement.

I recently spoke with a banker who had no knowledge of life settlement until the day before I called.  He said "It is ironic, I just had a senior come into my bank trying to save his business with new financing."  He was very upset that he just heard about life settlements and complained he had a large insurance policy he let lapse recently that could have saved his business if he had sold for cash as a life settlement.

When I explained to Jack, a senior, what a life settlement was he immediately agreed that sometimes changesin life or circumstances means you no longer need your life insurance policy.  In fact, he told me a few years ago he called his insurance agent and told him he had to much life insurance.  The agent agreed and said let's cash it in for the cash value.  How much did Jack and his family lose by not evaluating what the market value was?

An agent of ours recently attended a luncheon and explained to the lady next to her what she does.  The lady said "Oh, my dad is 88 and just cashed in his life insurance policy with the insurance company. We had no idea there was any other option when a policy was not needed."  How much money did this man and his family lose because of the lack of knowledge?

Cheryll, a 71 year-old woman and struggling to care for her disabled husband with Alzheimer's.  She became excited when we told her what life settlements were.  She was in extreme financial straits and a life settlement could potentially be a wonderful

solution.  When she sent in her $ 50,000 policy to be reviewed it was discovered she missed the opportunity to convert the policy by 12 months.  This would have allowed her to sell the policy as a life settlement.  What a blessing that money could have been if she only knew.  Another lost opportunity.

Lost opportunities in life settlements are the sad stories we hear from individuals and their families  who never knew they could sell their life insurance policy.  Many seniors have been faced with making a decision on what to do with their life insurance policy they no longer need or can no longer afford   Usually,  they have only known of two options:  (1) let the policy lapse or (2) turn the life insurance policy in for any cash surrender value, if it is avaliable.

The Sad, Sad Stories We Hear...

Lost Opportunities in Life Settlements