Many Fort Lauderdale residents are surprised to learn that their life insurance policy can be sold for cash—often for much more than its surrender value. If you no longer need your policy or the premiums have become too costly, life settlement services in Fort Lauderdale can help you turn your policy into a valuable financial asset.
At Summit Life Insurance, we specialize in providing transparent and professional life settlement services to help you secure the highest possible payout for your policy.
What Are Life Settlement Services?
Life settlement services involve selling an unwanted or unneeded life insurance policy to an institutional buyer for a lump-sum payment.
These services typically include:
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Policy Evaluation: Assessing your policy’s eligibility and estimated market value.
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Market Exposure: Presenting your policy to a network of licensed buyers.
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Negotiation: Securing competitive offers to maximize your payout.
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Transaction Management: Handling all the paperwork to ensure a smooth and legal process.
At Summit Life Insurance, we guide you through every step, making the process simple, secure, and stress-free.
Who Can Benefit from Life Settlement Services in Fort Lauderdale?
Our life settlement services in Fort Lauderdale are ideal for individuals who:
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Are 65 or older, or have experienced a decline in health.
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Own policies with a face value of at least $100,000.
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Struggle to keep up with expensive premium payments.
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No longer need the policy due to changes in financial or family circumstances.
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Are considering surrendering the policy but want to receive more than the cash surrender value.
By working with Summit Life Insurance, you can uncover the hidden value in your policy that you may not have realized was there.
Why Use Professional Life Settlement Services?
Choosing professional life settlement services in Fort Lauderdale offers several key benefits:
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Maximized Payouts: We present your policy to multiple buyers to drive competitive bidding.
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Eliminate Premium Payments: Buyers take over future premiums, saving you money.
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Expert Guidance: Licensed brokers ensure you understand each step of the process.
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Time-Saving: We handle the paperwork, negotiations, and compliance for you.
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Peace of Mind: You’ll know you’re working with experienced professionals who have your best interests at heart.
Our 5-Step Process at Summit Life Insurance
At Summit Life Insurance, we’ve designed a clear and efficient process for our clients in Fort Lauderdale:
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Free Consultation: We start with a no-obligation review of your life insurance policy.
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Policy Evaluation: We determine if your policy qualifies for a life settlement and estimate its market value.
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Market Bidding: We shop your policy to a network of institutional buyers to secure the best offers.
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Offer Review: We present all offers and help you select the one that best meets your needs.
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Closing and Payment: Once you choose an offer, we handle the paperwork to ensure a smooth, legal transaction and fast payout.
Benefits of Choosing Summit Life Insurance
Fort Lauderdale residents trust Summit Life Insurance for life settlement services because we offer:
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Licensed Expertise: We are a fully licensed life settlement broker in Florida.
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Competitive Offers: We aim to secure the highest possible payout for your policy.
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Transparent Process: We explain every step clearly so you can make informed decisions.
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Personalized Service: We tailor our approach to your specific financial goals.
Tax Considerations for Life Settlements
It’s important to understand that life settlement proceeds may be partially taxable, depending on your situation.
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The portion equal to the premiums you’ve paid is generally tax-free.
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Any amount above the premiums may be taxed as ordinary income or capital gains.
We recommend consulting a qualified tax professional for personalized advice. Summit Life Insurance can connect you with trusted local experts.
Final Thoughts
If you have a life insurance policy you no longer need or want, life settlement services in Fort Lauderdale can help you turn it into a valuable financial resource.
With Summit Life Insurance, you’ll have a trusted, licensed partner dedicated to securing the highest payout while guiding you through a transparent and stress-free process.
Contact Summit Life Insurance today for a free consultation and find out how much your policy could be worth.
