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Life Insurance Settlement Options

Instructor: Elisha Madison

Elisha is a writer, editor, and aspiring novelist. She has a Master's degree in Ancient Celtic History & Mythology and another Masters in Museum Studies.

Life insurance settlement options are varied and can get confusing for insureds, especially since the payout is during such a stressful time. The following is a list and explanation of those options.

Introduction

Life insurance settlement options are usually furthest from the mind of an insured. They either don't care because the money is not for them but their loved ones or they do not want to consider the details after they pass. Either way, insureds need to understand what options are out there for them and what their specific policy will do for them and their families.

Life Insurance Settlement Options

Although, the policy is being taken out on the insured, the beneficiary's needs should be taken into account. Will they need a lump sum to pay for funeral expenses, or is a payment method better so the kids have an income while in school? Whichever method, the conversation needs to be had between the insured and their dependents to determine what is best and why.

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