Are you thinking about selling your life insurance? A life cover is, first and foremost, an investment, which means you can sell it when you need some cash or when it doesn’t serve you anymore. For instance, when your beneficiaries are all grown up and financially independent.
Selling life insurance is known as a life settlement. Typically, the amount you receive for your cover is more than the surrender value, that is, the payment you stand to get from your insurance provider if you forfeited your coverage. But it is also less than the death benefits your beneficiaries stand to gain upon your demise.
All that said, you want to work with a life settlement company, more specifically, one like ERES that’s listed in the stock market, for these reasons:
Private companies enjoy a freedom that public companies don’t- privacy. They can keep their business on the down low, including how they govern the company and generally handle operations. Conversely, publicly traded companies are required to reveal their books and are actually answerable to their investors.
As the client, this is a huge benefit as you know you’re working with a highly transparent company from the get-go.
Guaranteed Compliance with Regulation
Before a company can go public, there are several laws and regulations it must comply with. And this is usually where many companies fall short. So, by working with a publicly traded life settlement provider to sell your life insurance, you are sure that you are working with a partner who complies with the rules. And that the deal you secure will be through the proper channels.
Good Reputation & Ample Experience
Given just how complicated an IPO is, you won’t typically find new companies going public. It’a pnly established companies like ERES with proven track records of performance that seem to do so.
This means that by choosing a publicly traded life settlement company, you will get professionals with ample experience and a solid reputation.
Remember, life settlements involve huge amounts of money. And so, you want to entrust the process in trustworthy hands.
Better Negotiation Capabilities
Now, we know that a life settlement’s value is usually between the surrender value and the maturity value. That is more than the former and less than the latter. Beyond that, the actual figure is determined by other factors, including your health, life expectancy, age, and premiums.
Usually, a life settlement company calculates and gives you the estimated value of your insurance based on these factors. And with your approval, look for the best deal for you. A publicly traded company typically has the experience and good name to negotiate the best life settlement for you.
Secure the Best Life Settlement by Choosing the Best Company for the Job
Selling your life insurance might be the best financial decision you can make. Especially if maintaining it doesn’t make sense anymore, and you have better use for the money. However, your deal will be as good as the company you choose. Go for a publicly traded life insurance company like ERES to secure the best deal faster and hassle-free.