South Carolina Life Settlements
South Carolina Life Settlements
The use of a South Carolina life settlements to fund senior care expenses has become an important option for many retirees to consider. The option to use the asset value of a life insurance policy can provide a variety of benefits. Many seniors think that their only option for an insurance policy is surrender. The truth is the a life settlement can provide much more than this relatively low cash surrender value, usually several times the value.
The way that life settlements are treated can vary greatly from state to state. South Carolina is currently still one of the few states that does not regulate the use of life settlements. A life insurance company may help a policy owner sell their policy for the fair market value without restriction. In South Carolina only viatical settlements are regulated. These involve the sale of a life insurance policy of someone that has a terminal illness with a life expectancy limited to 36 months. The broker of this viatical settlement must be licensed to help the policy owner with the transaction.
Knowing your options in a life insurance policy can sometimes make all the difference. When you feel that the value of your policy could be better used to fund current senior care needs, find out how a South Carolina life settlement can help you.