Life Insurance is your personal property. It is often a senior’s most valuable asset and can be used to help alleviate the financial strain of retirement. Selling your life insurance policy can stop expensive premiums, help fund retirement, or pay for unforeseen medical costs. The offer would be more than the price, but less than the net death benefit. Deciding to sell your life insurance policy is a big choice, so here are our top companies to help make the decision a little easier for you.
1. Abacus Life Settlements
Abacus Life Settlements is the fastest growing life settlement provider. It was founded in 2004 and had an 18.5% growth rate over the past year. They empower their clients with the information they need to make an informed choice. This is shown through their extensive learning center seen on their website here. They also have the fastest sales process. They have been known to give offers in less than 24 hours in an industry where the average offer takes 5-7 days. With the combination of speed, customer service, and growth, Abacus Life Settlements has earned their first place position.
Best Features:
- Fast sales process
- Great Customer Service
- Received an A+ rating by the Better Business Bureau
2. Institutional Life Services (ILS)
ILS is an emerging leader in the Life Settlements industry. They purchase smaller policies under $100,000, but also larger policies for much more. This gives them a large quantity of policies to possibly purchase. They will also help to match policy owners to someone who will purchase their policy if they cannot buy it. Their customer service has seen great reviews, and they have been very open with their clients. Many clients have noted that ILS was extremely forthright with their intentions. They certainly embody every aspect of what is right with the life settlements industry.
Best Features:
- Customer service
- Fast growing company
- Purchases variety of policies
Policy Cash has a history of speed and large payouts. They offer fast cash for your policy. They try to make the process as simple as possible. They have been known to have great customer service along with their fast moving process. They have also been known to match policy owners to someone who might be able to purchase their policy. They are a smaller company which allows them to focus more on each individual policy. They can really zero in on what every client’s needs are. This puts them at #3 on our list as they continue to show growth.
Best Features:
- Simple and fast sales process
- Can focus more on individual policies
Honorable Mentions
- Life Settlement Foundation
- Magna Life Settlements
- Habersham Funding
Learn More About Selling Your Life Insurance