Episode 205: Life Insurance Settlements with Rob Haynie
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Show Notes
Life insurance is an important part of any financial plan. Your death can bring about financial hardship to those you leave behind without it. Term life provides a nice benefit for a lower premium (although it goes up as you get older), while whole or universal life provides coverage for a higher premium, but it grows in cash value over time to provide an asset.
But apparently that whole life policy is worth more than its cash surrender value! You can actually sell it! To tell you more about this, I talked with Rob Haynie about life settlements and how they work.
In this episode you will learn:
- What a life insurance settlement is - What some of the most compelling reasons are for considering one - How they can aid in estate planning - How they can help you achieve financial freedom in retirement - How they can help you overcome debt and avoid foreclosure