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What to Do with an Expensive Life Insurance Policy

May 1, 2018

From the U.S. News & World Report website

If your money runs out long before the month does, you might be thinking about dropping your life insurance coverage. Eliminating premiums, particularly on pricey whole and universal life policies, can free up money in your budget for more pressing needs.

But don’t let that policy lapse just yet. According to Marv Feldman, CEO and president of Life Happens, a nonprofit group that provides educational resources about the insurance industry, many people don’t realize that they may have ways to maintain their coverage or even make money off a plan they can’t afford.

From downsizing the death benefit to selling your coverage for a profit, here’s what you should know about your life insurance options.

From → Finance

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