The economy has taken its toll on this household, that is for sure. Although we are holding our own quite nicely under less than ideal conditions we have made a number of lifestyle changes in order to cope, including dumping our pricey cable service; lowering our electric, phone and insurance bills and making cuts to our entertainment expenses. So far none of these things have been particularly painful (no, not even the cable) and I think overall they have been really great changes I am glad we made.
We haven't yet had to cash in any assets, but no asset is totally off limits if good jobs stay so difficult to find for very long. I am not at an age where I could cash in a life insurance policy just yet, I thought some of you might want to know about a service I recently learned about- Quantum Life Settlements.
Quantum Life Settlements works to get individuals the highest possible settlement for their life insurance policies. Although it isn't something one might want to consider, I think it is a smart option if there is a genuine need for money now, while you are still around to see it go to good use. If I was eligible and needed it, it is something I would absolutely keep in mind, just in case.
Cashing in a life insurance policy isn't an option for everyone, but it is a good idea if your premiums have become too costly or you no longer need as much coverage. There are some criteria you must meet in order to be considered including having a death benefit of at least $500,000 and are 70 years old or have a life expectancy between 2 and 15 years.
It is something worth looking into if it fits you, and Quantum Life seems to be a good company to consider. You can take their free on-line qualifier quiz to see if you meet the criteria or you can learn more information at their website. If there is one thing the recent economic issues have taught me it is to be flexible and keep all my options open. I see cashing in a life insurance policy as just one of many options to consider if the need arises.