Company-owned key man policy on a retiring business owner. Due to the costly conversion premium, the company planned to lapse the policy. The retiring business owner negotiated for the policy ownership to be transferred to him. Afterward, his advisor suggested he have his life insurance policy asset appraised for secondary market value.
Financial ripple effect caused reductions in cash flow
Used the cash to fund their livelihood.
Surrendering policy and interested in receiving more money
Adult children unable to pay premiums to maintain the policy.
Policy was eating cash flow needed for caregiving costs
Funded long-term care needs and relieved financial stress from her family.
