<VV> Insurance Input -- NO CORVAIR

Hugo Miller hugo at aruncoaches.co.uk
Fri Apr 24 18:47:38 EDT 2020

I for one have found this exchange very informative. Keep it public I 

On 2020-04-24 21:16, Steven J. Serenska via VirtualVairs wrote:
> Grant:
> Doc's advice was spot on.
> In general, if someone is stepping between you and the insurance
> carrier to purchase the value of your policy, this will result in 
> less
> money flowing to you.  The purchaser will always need to make a 
> profit
> (small or large) on the transaction ... and this will be at your
> expense, not the carrier's.
> Please let us know here, or me offline, what kind of insurance policy
> you've got.  Is it Whole Life?  Universal Life?  Something else?  I'm
> assuming, because you say "it is time to renew" that it is not an
> annuity but please let us know regardless.
> If it's almost any kind of cash-value policy (e.g., whole life) your
> carrier will have some sort of provision to allow you to gain access
> to the cash directly.  Again, don't go through a middle man, you'll
> just get less.
> Finally, if these people approaching you are viatical settlement
> companies or brokers, be aware that these arrangements only work when
> the policyholder has some dread disease (e.g., pancreatic cancer)
> where the likelihood is good that the policyholder will be dying in
> the short term, i.e., collecting on a term-life policy. Again, let us
> know what kind of policy you have and perhaps the comments can get a
> bit more focused.
> I'm replying here on VV, btw, even though this is way off topic, in
> case it benefits others.
> Steven "by 'others', I mean 'other old farts' which we pretty much
> all are" Serenska
> Bristol, RI
> 1965 Monza Convertible, 110/4
> 1966 Corsa Coupe, 140/4
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