Should You Surrender That Life Insurance Policy For Cash? - Episode 93
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Should You Surrender That Life Insurance Policy For Cash? - Episode 93
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Before you (or someone else) surrender that permanent life insurance policy for its cash value, listen to this conversation. In today's episode, Chris and Danny walk through the real alternatives people rarely talk about: keeping the death benefit while using the cash value as a flexible asset, reduced paid up (RPU) options, switching an IUL/VUL from a growing death benefit to a level death benefit, decreasing the death benefit, selling the policy via a life settlement, donating a policy to charity, using the cash value as an emergency fund or bond alternative, and more. Chris and Danny also cover the key facts you must gather (e.g., health information, financial goals, detailed policy information, etc.) so you don't make a rushed decision based on Reddit hot takes or loud YouTube opinions. Tune in if you want the right questions to ask, the tradeoffs to weigh, and several options you probably haven't considered.
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This podcast is for informational purposes only and should not be considered or regarded as personalized investment or financial advice. All opinions expressed by Chris, Danny, and any guests are solely their own opinion. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided from this program (including any information that may be accessed through this website) is not directed at any individual, investor, or category of individuals or investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities.