How Much Can I Make
A recent client, a 79-year-old male, had a $1,000,000 life insurance policy. His insurance premiums were $29,292 per year. The policy had a $79,570 cash value. he no longer needed the policy, but he could only cash it in for just under $80,000. In less than 90 days we were able to sell his life insurance policy and he received $311,000 net to him. He gained an extra $231,430 by talking to us and allowing us to sell his policy. In this case (because his total lifetime premiums exceeded the sale amount), the entire $311,000 was received income tax free.