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A life (or viatical) settlement is the sale of an existing life insurance policy for more than its cash surrender value but less than its net death benefit providing you with a higher payout than received in a cash surrender value.
Financial institutions and reputable banks purchase your existing policy taking into account your age, state of health, and the overall economic environment. MaxLife Solutions gathers several competitive bids to ensure your maximum value. The buyer (called a provider) becomes the new owner of the life insurance policy, pays future premiums, and collects the death benefit when the insured dies.
“This really did a lot for our future. By funding our long-term needs, it saved us from being a burden on our children.”
-- The Spries
Universal Life Insurance