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American Life Fund > Blog > Uncategorized > Can Selling a Life Insurance Policy Provide Peace of Mind?

Can Selling a Life Insurance Policy Provide Peace of Mind?

Everyone who’s been diagnosed with a terminal illness reacts differently. Some may want to lash out in anger, while others may feel completely removed and become introverted. In our previous blog, we discussed the importance of providing support in these situations and ways to become an effective co-survivor. While it’s important to provide emotional support, it’s just as important to offer practical support, as well.  This can be as easy as providing a weekly meal, or offering transportation to treatment.  It can also be helpful to offer financial advice.

Medical treatments are overwhelming enough.  But dealing with the financial burdens of medical costs can be even more incapacitating.  The patient may not even have the forethought to even consider future medical expenses and the cost of care, but the reality is that these expenses are inevitable.  If you can help them understand their options and potentially ease financial burdens, you’ve provided a great service.

Many people don’t even know they can sell an existing life insurance policy and use the funds toward medical bills treatments and living expenses.  It’s a relatively new process, and gaining popularity. If you or someone you love is terminally ill then it’s important to understand that there are options when it comes to paying for living expenses and medical care.

Why would you sell a life insurance policy? Because you, the patient, want to battle this disease while not living with day-to-day stress over finances and feeling hopeless. That’s how American Life Fund can help.  We make it possible for you or your loved one to remove financial worries and be able to focus on becoming healthy again, or being as comfortable as possible in your journey.

It’s time to connect with ALF if:

  • You’re struggling with the cost of medical bills or alternative treatments
  • You need assistance with living expenses or need to replace lost income or wages
  • Your insurance premium payments have become unaffordable
  • Your Term policy is about to expire
  • Your “Key Man” policy is no longer effective
  • Your group policy can be “ported” or converted to an individual policy

If you decide to sell your life insurance policy:

  • You’ll get relief from financial burdens
  • It provides immediate cash when you need it the most
  • It provides value to a hidden asset otherwise thought to be non-liquid
  • There are no restrictions on how the sale proceeds are spent—your money is your money
  • The proceeds are tax-free

If you’d like more information about selling a life insurance policy, contact American Life Fund today. We’ve been able to help thousands of people facing life-threatening illnesses.