An unwanted policy may have cash value to a buyer. If a sale makes sense, you can explore using some of the proceeds for growth, retirement income, or both.
No obligation. Personal guidance from Saul Appel, CLU®, ChFC®.
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Before you surrender a policy or stop paying premiums, ask whether selling it could be a better option. Appel Financial coordinates a review and, where appropriate, seeks competing offers from licensed life settlement buyers.
You decide whether to sell. You then decide what to do with the cash. An annuity is optional, and you do not have to commit all your proceeds.
We start with the policy type, face amount, premiums, ownership and your circumstances to assess whether a sale is worth exploring.
Compare the net proceeds with keeping, surrendering or changing the policy, including the effect on your beneficiaries and taxes.
If you sell, we can illustrate annuity options alongside your need for accessible cash, expenses and retirement income.
A fixed indexed annuity may provide index-linked interest potential with tax deferral on earnings until distribution. You can explore future lifetime income features where available.
Interest credits can be zero. Caps, participation rates, spreads, fees and withdrawal provisions affect results; positive annual growth is not assured.
A single premium immediate annuity can turn a lump sum into payments that begin soon after purchase. Options may include income for your life, two lives, or a specified period.
Your illustration should show the payment, survivor benefits and the amount of principal access you give up. Payments are backed by the issuing insurer.
Selected annuity options may offer a premium bonus of up to 31%, depending on the contract and your eligibility.
A bonus is one part of the decision. We compare it with income, interest-crediting terms, charges, access to your money and beneficiary provisions.
Bonus availability may depend on age, state, premium and elected features. Vesting or recapture rules may apply. A bonus is not an annual return or necessarily cash available for immediate withdrawal.
Request a current illustration showing the exact bonus, where it is credited, and all applicable conditions.
For an annuity purchased with after-tax money, earnings generally grow tax-deferred. When a nonqualified immediate annuity pays annuitized income, part of each payment may be excluded from income tax as a return of your investment; the earnings portion is taxable. Depending on the contract and calculation, that excluded portion may be substantial.
The tax-free share is not automatic because the money came from a life settlement. Ordinary withdrawals and income-rider payments can be taxed differently, generally with earnings coming out first. Buying an annuity does not eliminate any tax due on the policy sale. We help you obtain the figures to review with your tax professional.
Saul Appel brings over 50 years of insurance and financial-services experience to your review. Appel Financial coordinates the policy sale process and, when appropriate, compares annuity options that fit your income timing, cash needs and family priorities.
The goal is practical: understand what your policy can do for you today and what the proceeds could do for your retirement tomorrow.
No. The sale and the annuity purchase are separate decisions. You may keep the cash, use only part for an annuity, or choose another approach.
After a completed sale and transfer, the buyer takes responsibility for future premiums. Until closing is confirmed, keep the policy in force and follow the closing instructions.
No. Policy type, age, health, premiums and buyer interest all affect eligibility and potential offers. An initial review does not guarantee a sale.
Not necessarily. Immediate annuities and bonus-bearing deferred indexed annuities are different options. We compare each approach rather than assuming one contract includes every feature.
Your state of residence, age, policy type, face amount and approximate annual premium. We will discuss your income timing and cash needs before asking for additional documents.
With a traditional life settlement, you receive cash for selling an unwanted or unaffordable life insurance policy. But cash is not your only planning option. Through our firm, you may place some or all of your settlement proceeds into a retirement annuity. Depending on the contract, it may offer up to a 31% premium bonus, tax-deferred growth, and guaranteed income for life. Depending on your tax basis and current tax law, a substantial portion of each monthly payment may be excluded from income tax. For more information about our Life Settlement Retirement Plan, call Saul at 617-610-1898 or visit policy-cash.com for a no-obligation consultation.
For payment taxation, distinguish annuitized income from ordinary withdrawals or income-rider payments as explained above.
Request a policy review and an optional retirement-income illustration. Call Saul directly or choose a convenient time.
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