Understanding Retained Death Benefit in Fort Lauderdale

For many policyholders in Fort Lauderdale, life insurance is more than a safety net—it’s a financial legacy. But as financial needs change, premiums rise, or coverage becomes less essential, many people consider selling their policy through a life settlement. One option that balances immediate financial relief with long-term family protection is the retained death benefit. At Summit Life Insurance, we specialize in helping Fort Lauderdale residents explore this option with clarity and confidence.

What Is a Retained Death Benefit?

A retained death benefit (RDB) is a flexible arrangement available through some life settlements. Instead of selling 100% of your policy for cash, you sell only a portion. This allows you to receive an upfront lump sum while keeping a percentage of the death benefit in place for your beneficiaries.

In other words, you unlock the value of your life insurance today, without leaving your loved ones without financial support in the future.

How Does Retained Death Benefit Work in Fort Lauderdale?

The process of securing a retained death benefit in Fort Lauderdale through Summit Life Insurance typically involves:

1. Policy Review – Our experts analyze your policy to see if it qualifies for a life settlement with retained benefits.

2. Market Presentation – We connect with multiple institutional buyers who compete to offer the best deal.

3. Customized Offers – Some buyers may provide cash-only offers, while others may include retained death benefit options.

4. You Decide – You choose the structure that best fits your financial goals—more upfront cash, more death benefit, or a balance of both.

Advantages of Retained Death Benefit

Choosing a retained death benefit can be the perfect middle ground for Fort Lauderdale policyholders who want to balance today’s needs with tomorrow’s security. Key benefits include:

• Immediate Cash Relief – Use the funds for healthcare, debt repayment, or retirement needs.

• Legacy Protection – Ensure your beneficiaries still receive financial support when you pass away.

• No More Premiums – Buyers take over premium payments, eliminating a financial burden.

• Flexibility – You decide how much of the policy to sell and how much to retain.

Who Should Consider a Retained Death Benefit in Fort Lauderdale?

This option is best suited for individuals who:

• Need immediate funds but want to preserve a legacy for loved ones

• Own a policy with a face value of at least $100,000

• Find premiums unaffordable or unnecessary

• Are considering surrendering a policy but want greater value

For many Fort Lauderdale residents, the retained death benefit option provides peace of mind—financial support now without losing sight of family security.

Retained Death Benefit vs. Full Life Settlement

It’s important to understand the difference between a full life settlement and a retained death benefit:

• Full Life Settlement – You sell 100% of your policy, receive the maximum lump sum, but no death benefit remains.

• Retained Death Benefit – You sell part of your policy, receive cash upfront, and keep a portion of the death benefit for beneficiaries.

At Summit Life Insurance, we help Fort Lauderdale clients evaluate both options to ensure they make the decision that aligns with their financial goals.

Why Work with Summit Life Insurance?

Choosing the right partner is essential when navigating complex financial options. At Summit Life Insurance, we are proud to be a trusted resource for Fort Lauderdale residents because we offer:

• Licensed Expertise – Full compliance with Florida’s life settlement regulations.

• Access to Multiple Buyers – Competitive offers tailored to your needs.

• Client-First Approach – We represent you, not the buyers.

• Transparent Guidance – Every step of the process explained clearly.

• Compassionate Service – We understand the importance of balancing financial relief with legacy planning.

Final Thoughts

A retained death benefit in Fort Lauderdale gives policyholders the best of both worlds: immediate financial freedom and continued support for their loved ones. At Summit Life Insurance, we are committed to guiding you through the process, helping you compare options, and ensuring you achieve both peace of mind and financial stability.

If you’re considering selling your life insurance policy but don’t want to lose your legacy entirely, contact Summit Life Insurance today to explore your retained death benefit options.