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Reasons For Selling Your Life Insurance Policy

Author : Smith Karen

Submitted : 2010-06-12 07:59:15    Word Count : 495    Popularity:   164

Tags:   sell my life insurance, sell my life insurance policy

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Mostly people commit the error of thinking life insurance as a positive investment. This is a false notion. Positive investments are those like investments in property, shares, mutual funds, bullion etc. You can sell them whenever you like and earn profits if their market value on the day of sale is higher than the value they were purchased at. However, it is not the same for life insurance policies.

Life insurance policies are paid pre maturely, on the death of the insured and this is true for around 90% of the cases. The insured will no longer be there when the time comes to collect the maturity amount, even though he has spent a major part of his life paying premiums. The insurance company's documents contain cleverly worded text. It is the same with their agents too. Stating that in the unfortunate event of your demise, the total sum insured will be paid to the beneficiary appointed by you is their way of convincing you.

So what is the gain for the insurance company? What is the reason for which you should sell your life insurance policy? Your beneficiary gets the sum assured if you die before the term of the policy is completed. If you are alive till the time of maturity of the policy, you too get the sum assured, right? Wrong Special bonuses and incentives that are as much as the sum assured is also given to you.

Suppose you expire much before the policy maturity date and you have a life insurance policy of $250,000. In such a scenario your beneficiary will only receive the same amount plus a small bonus amount that is calculated by the insurance agency. In certain cases when the insured passes away within 2-3 years of starting the policy, the amount paid will be less than the insured amount.

Compare this with the $500,000 you would have received had you managed to stay alive for the term of the policy you would have received $500,000. It is wise to sell your life insurance policy and invest it in something that you can redeem whenever you like because few persons manage to remain alive for the term of the policy. You have the option of surrendering the policy to the insurance company for a small sum of money. Or you can sell your insurance policy in the open market for a greater sum by opting in for life settlement.

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I want to sell my life insurance and also get to know how can I sell my href=http://www.sellmylifeinsurancepolicynow.com/>life insurance policy?.

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