But what many people don’t realize is that your policy may be worth far more than its surrender value. With the help of a Life Settlement Calculator, you can find out exactly how much cash your policy could generate if you decide to sell it.
At Summit Life Insurance, we provide Fort Lauderdale residents with a free life settlement calculator that quickly estimates your policy’s market value—helping you make smart financial decisions with confidence.
What Is a Life Settlement?
A life settlement is the sale of a life insurance policy to a third-party investor. Instead of letting your policy lapse or surrendering it for pennies on the dollar, you receive a lump sum of cash that’s typically much higher than the surrender value.
Here’s how it works:
✔ You sell your policy to a buyer.
✔ The buyer takes over future premium payments.
✔ The buyer becomes the new beneficiary.
✔ You walk away with cash in hand.
For many Fort Lauderdale seniors, this means the difference between struggling with premiums and enjoying financial freedom.
Why Use a Life Settlement Calculator?
A life settlement calculator is the first step in understanding your policy’s worth. Instead of guessing, this tool gives you a realistic estimate based on key factors, including:
-
Policy type (whole life, universal life, or convertible term)
-
Face value (death benefit)
-
Premium costs
-
Your age and health
-
Insurance carrier ratings
At Summit Life Insurance, our calculator is fast, free, and confidential. You don’t have to share sensitive medical information right away—just basic policy details to get started.
How Much Is My Policy Worth in Fort Lauderdale?
On average, life settlement payouts range between 10% and 60% of the policy’s face value.
Example Payouts Using Our Calculator
-
A 72-year-old Fort Lauderdale resident with a $500,000 universal life policy could receive $120,000–$180,000.
-
A 68-year-old with a $250,000 whole life policy might qualify for $50,000–$90,000.
-
A 75-year-old with a $1 million policy could be offered $250,000–$400,000.
Every situation is different, which is why our calculator gives you a personalized estimate.
Life Settlement Calculator vs Policy Surrender
| Option | Typical Value | Premiums | Beneficiary Payout |
|---|---|---|---|
| Policy Lapse | $0 | End immediately | None |
| Policy Surrender | Small cash value | End immediately | None |
| Life Settlement (via calculator) | 10–60% of face value | End immediately | None (buyer becomes beneficiary) |
As you can see, a life settlement almost always produces a higher payout than surrendering or lapsing your policy.
Who Qualifies for a Life Settlement in Fort Lauderdale?
You may qualify if you:
✔ Are 65 or older (or younger with major health conditions)
✔ Have a policy with at least $100,000 face value
✔ Own a Whole Life, Universal Life, or Convertible Term policy
✔ Are tired of paying high premiums or no longer need coverage
Benefits of Using a Life Settlement Calculator
✔ Immediate Cash Estimate – Know your policy’s value in minutes.
✔ Eliminate Premiums – Stop the financial burden of monthly payments.
✔ Free & Confidential – No obligation and no hidden fees.
✔ Better Financial Planning – Use the estimate to weigh your options.
✔ Maximize Your Asset – Don’t settle for surrendering your policy when it’s worth much more.
Why Fort Lauderdale Residents Choose Summit Life Insurance
At Summit Life Insurance, we go beyond just giving you a calculator—we guide you through the entire process.
✔ Local Expertise – Serving Fort Lauderdale seniors with personalized service.
✔ Licensed Florida Broker – Ensuring compliance and consumer protection.
✔ Multiple Offers – We shop your policy to multiple buyers for the highest payout.
✔ Transparency – You’ll see every offer before making a decision.
✔ Compassionate Support – We understand this is a big decision and provide guidance every step of the way.
How to Use the Summit Life Insurance Calculator
-
Enter Policy Details – Face value, type of policy, premiums.
-
Add Basic Information – Your age and health status.
-
Get Instant Estimate – See your potential payout in minutes.
-
Free Consultation – If interested, we connect you with buyers to secure offers.
FAQs About Life Settlement Calculators in Fort Lauderdale
1. Is the calculator really free?
Yes. Our tool is 100% free and confidential.
2. Do I need a medical exam?
Not for the calculator. If you move forward, buyers may request medical records, but we handle the process.
3. Will using the calculator affect my policy?
No. It’s simply an estimate and has no impact on your current coverage.
4. How accurate is the estimate?
It provides a reliable range based on industry data, but actual offers depend on buyer demand.
5. How fast can I get cash after selling my policy?
Most life settlement transactions close in 30–60 days.
Final Thoughts
Your life insurance policy may be one of your most valuable assets, and a Life Settlement Calculator helps you unlock its hidden value. Instead of lapsing or surrendering your policy, discover how much cash you could receive—and gain the financial freedom you deserve.
At Summit Life Insurance, we provide Fort Lauderdale residents with free, accurate policy evaluations and connect you with multiple buyers to ensure you receive the highest possible payout.
Try the Summit Life Insurance Life Settlement Calculator today and take the first step toward financial independence.
Comments
0 comment