You Sell the Life Insurance Policy Fortunately, the IRS doesn’t treat any portion of what you receive for a viatical settlement as taxable. Under IRS code 101(g)(2), an amount paid by a viatical settlement provider is treated like a payment of the death benefit — and death benefit payouts are not taxable.
How much do you get if you sell life insurance policy?
If your policy is eligible to be sold, you can expect to receive from 10% to 35% of the amount that would be paid when you die. In certain situations, you could receive more. A few factors that will affect the amount you may be offered: The face value (coverage amount) of your policy.
How do I contact Coventry direct life insurance?
Coventry Direct is also committed to helping policy owners by evaluating their policy for a life settlement free of charge and with no commitment. This is done by entering your policy and health information on their website, or by calling them on the phone. Either method will get you in touch with one of their Policy Specialists.
How old do you have to be to get Coventry direct?
We reviewed the Coventry Direct website and found their minimum requirements to be: you must own a $100,000 or larger life insurance policy, you must be at least 65 years old, and you need to have had a change in health since the policy was purchased.
How do you sell a life insurance policy?
To sell your life insurance policy, contact a licensed life settlement company. They will provide an offer based on your age, health, and policy. If you sell, you will receive a cash payment that is larger than the cash surrender value but less than the death benefit.
What’s the average rating of Coventry direct insurance?
They paid more than a fair price for my policy, and I am forever grateful.” Coventry Direct currently has 86 reviews with an average rating of 4.5 stars. That’s an outstanding reputation and even more impressive when you compare it to other companies in the industry.
