RUSHVILLE, Ill., June 24 IL-TermtoCash-Ins
RUSHVILLE, Ill., June 24 /PRNewswire/ -- With the skyrocketing cost of
everything from gas to food to healthcare, many seniors are struggling to make
ends meet. Thousands have already turned to a relatively new option known as
a life settlement. "A life settlement is more or less a recycling program for
life insurance policies, and has helped thousands of seniors get the cash they
need right now," says Norman Hood, an independent insurance adviser in
Rushville, Illinois. "Thanks to a new program, TermtoCash, up to 40 percent
more seniors could benefit from this already popular financial tool."
What is TermtoCash?
People essentially rent insurance when they buy term life. When
retirement comes, some convert from term insurance to permanent insurance.
Most decide it is an unnecessary expense. As a result, nearly all term life
insurance policies lapse without value. TermtoCash gives seniors another
option. TermtoCash is a unique life settlement program designed to provide
additional life settlement options to seniors over age 55 by purchasing
policies that aren't eligible for other life settlement programs.
How much money can you get?
"It depends on several factors, including your age, the face value of the
policy and the amount of the premium that investors will have to pay to keep
the policy in force," says Hood. Policyholders can get an estimate of the
potential value of any life settlement by visiting http://www.termtocash.com
and following the link to Hood's LIVEpdq calculator. "I created LIVEpdq to
allow seniors to find out how much money they can get without having to deal
with a high pressure sales pitch. All the information they need is on my
site."
Who should consider TermtoCash?
Most types of life insurance policies, including universal life, whole
life and corporate owned policies are eligible for life settlements. Term
life insurance policies must be convertible to qualify, meaning they can be
changed to universal life or whole life policies without proving good health.
Hood says most term polices are convertible to at least age 65. Many are
convertible longer, occasionally past age 80.
According to Hood, his LIVEpdq calculator can assess a person's
eligibility for both a traditional life settlement and the expanded TermtoCash
program. "Not everyone should sell their policy, but anyone past age 55
should at least obtain the free LIVEpdq estimate of what their policy is
worth."
CONTACT: Norman Hood
800-642-8695
SOURCE Norman Hood
