by Broadtower Member Chris Orestis, Executive Vice President of GWG Life and Founder of Life Care Funding
“In observance of Life Insurance Awareness Month, it is important for policy owners to be aware of the life insurance asset that they own.
Life insurance policies are one of the most misunderstood and undervalued assets a person will ever own. And make no mistake, a life insurance policy is legally recognized as an asset with personal property ownership rights. Think of a life insurance policy the same way you would your home. You make mortgage payments on a monthly basis. Would you one day just drop your keys in the driveway and abandon your home? Of course not. You would sell your property for its highest market value. A life insurance policy is no different. After years of making premium payments, why would the owner abandon this other property without obtaining its full market value?
Life insurance policies have a hidden value that the vast majority of owners are unaware is readily accessible.
Seniors in particular are most at risk to lapse or surrender their life insurance policies. In fact, Conning and Company projects that over the next 10 years as much as $185 billion…”
Click here to read more, originally published September 12, 2017 on InsuranceNews.net.