1. In many cases, a life settlement transaction is a great alternative to lapsing your policy or surrendering your policy for little value. A life settlement allows you to stop paying premiums and receive an upfront cash value in exchange for your policy.
2. You should be 65 years and older to pursue a life settlement. Your insurance policy should be whole life, universal life or convertible term life insurance. You can read more about qualifying for a life settlement transaction here.
3. Life settlements can give you a fair market value for your policy. Ovid is a life insurance exchange, with many institutional investors bidding for your policy in an auction. You benefit when many players bid for your policy.
4. It’s free to get an offer. You can use this life settlement calculator to estimate what you could receive for your policy in a life settlement transaction. Plus, you can receive a completely risk-free offer for your policy. You can get a free offer for your policy with no obligation and no sales pressure to sell your policy.
5. It is fast and easy to request an offer. Ovid lets you request one in 10 minutes. Just make sure to have an updated policy illustration on hand.