COI Increases
Cost Of Insurance Increases
Most insurance agents and brokers already know that several major life insurance companies have announced increases to the Cost of Insurance (COI) charges on some of their in-force universal life insurance policies. These COI increases are causing financial advisors and policyholders to look at alternatives to paying premiums on life insurance, including Life Insurance Settlements. The owners of those policies may be facing much higher premium requirements than they expected and or the performance of the policy will not meet original projections. Getting the Cash Surrender Value of a Life Insurance plan for a client can change their life and experience with their dedicated life insurance settlement broker.
A Proactive Approach
Identify affected clients and call them first. A potential solution to COI increases on an elderly clients life policy is a life settlement. A life settlement is a cash settlement for life insurance, or more specifically, for an existing life insurance policy for someone over age 65. Life settlements are especially powerful when the need for, or financial circumstances, have changed since the life insurance policy was originally issued. You may be doing your disenchanted client a huge favor by introducing them to one of our many life settlement options.
