As pointed out at interest.com, seniors in 49 of 50 states, Nevada being the lone exception, are underfunded for retirement. Most retirees need at least 70% of the income they earned while they were working to maintain their accustomed living standards.
“Many Americans are struggling to make ends meet in their golden years,” said Mike Sante, managing editor of interest.com. “Especially in high-cost areas such as the Northeast, retirees are not only competing against the higher incomes of their younger counterparts, but they are also battling higher costs for housing, gas, food and other necessities.”
For seniors in this situation, selling their life insurance can provide a valuable post-retirement solution.
The life insurance secondary market has become one of the most well-regulated financial service industries in America, with high levels of accountability and privacy protection for consumers. Seniors wanting to sell their life insurance policies do so today knowing these protections are in place to help them receive greater value for their policies. For example, when working with GWG Life, LLC, policy owners could receive five to eight times more than the surrender value offered by the insurance company, and often times much more. Selling a life insurance policy can provide additional retirement funds, and free the policy owners from expensive premiums. Learn more about repurposing your life insurance policy through GWG Life, LLC.