Settlements

I recently heard that a friend of mine was undergoing some financial problems. He had to take a paycut at his job and was struggling to meet his financial commitments on his house and car. When I met up with him, I asked if he was having trouble meeting his insurance premiums as I had heard that it is dangerous to allow your policy to lapse as you will end up getting nothing from it despite having made all those premium payments earlier on. Luckily for him, he said he managed to find an alternative in the form of Life Settlements where he was paid a lump sum payment when he terminated his policy before its due date. The lump sum they paid out was good enough to help him meet his financial commitments for the next few months and to help him get a new better paying job. He said he wasn’t too concerned about having to make Life Settlements on his policy as he was still young and could afford a new policy once his job is more settled.