A Brighter Path

Life Insurance Facts

Did you Know? that 90% of life insurance policies lapse? Don’t stop paying because your situation has changed.

1. The policy owner no longer needs coverage  
2. The beneficiaries of the insurance policy die before the person covered by the policy
3. A change in business ownership makes the policy unnecessary
4. The policy has not performed as expected or premium payments have become burdensome
5.  A change in policy type or coverage amount is necessary to address current objectives
6. Obtain cash now to achieve other objectives

Life Insurance Facts

Did you Know? Just like a home, a life insurance policy is an asset that can be sold. The legal basis for the secondary market in life insurance started in 1911 with the U.S. Supreme Court case of Grigsby v. Russell. With this case it was shown that life insurance had all the legal qualities of property which meant that life insurance could also be transferred in similar manner. Grigsby v. Russell set the rights that a policy owner could name the beneficiary, borrow against it, sell the policy and change the beneficiary 

1. Funding long term care  
2. Maintaining lifestyle
3. Making gifts to heirs or charities
4. Purchasing investments or other insurance products
5. A change in policy type or coverage amount is necessary to address current objectives
6. Achieving other financial objectives

About Robin Roberts

• University of Minnesota - BSB-Accounting
• CME, CSE and SCPS - certifications from Sales & Marketing Executives International
• Minnesota License #40385211 Resident Insurance Producer, Accident & Health, Life