Retained Death Benefit in Fort Lauderdale: A Smart Alternative to Selling Your Entire Policy

Life insurance policies are valuable assets, and many Fort Lauderdale residents are discovering flexible ways to benefit from them—without losing all future coverage. One of the most powerful options is the Retained Death Benefit (RDB).

At Summit Life Insurance, we specialize in helping policyholders explore alternatives like the Retained Death Benefit in Fort Lauderdale to provide immediate cash while still leaving a portion of the death benefit for their loved ones.

What Is a Retained Death Benefit?

A Retained Death Benefit allows you to sell your life insurance policy through a life settlement while keeping part of the death benefit intact for your beneficiaries.

Here’s how it works:

• A portion of your policy is sold to a buyer who pays you an immediate cash settlement.

• The buyer assumes responsibility for future premium payments.

• Your family still receives a guaranteed death benefit—even though you no longer pay for the policy.

This unique option helps Fort Lauderdale residents unlock the cash they need today while protecting their loved ones’ future financial security.

Who Should Consider a Retained Death Benefit in Fort Lauderdale?

A Retained Death Benefit can be ideal for individuals who:

• No longer need their full life insurance coverage.

• Find premium payments too expensive to maintain.

• Want immediate cash for medical bills, retirement, or other expenses.

• Still wish to leave a legacy or financial cushion for beneficiaries.

At Summit Life Insurance, our experts will review your policy for free to determine whether this option fits your goals.

Benefits of Choosing a Retained Death Benefit

There are many reasons why Fort Lauderdale residents choose an RDB option with Summit Life Insurance:

• Immediate Cash Access: Get a lump-sum payment for urgent needs like healthcare, debt relief, or retirement income.

• No More Premium Payments: You no longer have to pay costly monthly premiums—the buyer covers them.

• Keep a Legacy for Your Loved Ones: Even after selling part of your policy, your beneficiaries still receive a portion of the death benefit.

• Financial Flexibility: Use your payout for any purpose, from medical care to improving your quality of life.

• Peace of Mind: You gain cash now without sacrificing all future coverage.

How the Retained Death Benefit Process Works at Summit Life Insurance

We’ve designed a simple and transparent process for our Fort Lauderdale clients:

1. Free Consultation: We start with a no-obligation review of your life insurance policy.

2. Eligibility Assessment: Our specialists determine whether your policy qualifies for an RDB option.

3. Competitive Market Offers: We share your policy with a network of institutional buyers to secure the highest possible payout.

4. Offer Selection: We present the best offers, including RDB options, so you can choose the one that fits your needs.

5. Closing & Support: We handle all paperwork to ensure a seamless, legal transaction and provide guidance through every step.

Why Work with Summit Life Insurance

Choosing Summit Life Insurance for your Retained Death Benefit in Fort Lauderdale means you’ll have a partner who puts your interests first:

• Licensed & Regulated Broker: We comply with Florida’s life settlement regulations to protect your rights.

• Tailored Solutions: We customize settlement and RDB plans to match your financial goals.

• Maximized Payouts: We leverage a network of buyers to get the highest possible cash offer.

• Transparent Communication: We explain every step in plain language so you can make confident decisions.

Tax Considerations for Retained Death Benefits

It’s important to understand that proceeds from a Retained Death Benefit may be partially taxable:

• The amount equal to your paid premiums is typically tax-free.

• Any funds above that may be subject to ordinary income or capital gains tax.

We recommend consulting a qualified tax advisor in Fort Lauderdale for personalized guidance. Summit Life Insurance can connect you with trusted local professionals.

Final Thoughts

A Retained Death Benefit in Fort Lauderdale offers a flexible, balanced solution—allowing you to receive cash today while still protecting your family’s financial future.

With Summit Life Insurance, you gain access to experienced professionals who will guide you through every step of the process with transparency, compassion, and expertise.

Contact Summit Life Insurance today for a free consultation and discover how much value your policy can provide with a Retained Death Benefit.