Life insurance is often purchased with the future in mind — but as life changes, financial needs change too. Many people reach a point where they no longer want or need their policy, or the rising premiums no longer make sense. When that happens, policy owners often assume their only options are to borrow against the policy or surrender it for far less than its true value.

But there’s another option many people don’t realize exists — one that can offer far more flexibility and financial benefit.

When unexpected expenses arise or budgets tighten, it’s natural to look for ways to access cash quickly. Borrowing against a life insurance policy is one familiar approach, but policy loans often come with:

• Accruing interest
• A growing loan balance
• Reduced death benefit
• The risk of losing the policy entirely if payments aren’t maintained

Before using your policy as collateral and taking on new debt, there’s another option worth exploring:

Selling your life insurance policy for cash through a life settlement.

A life settlement allows you to unlock the value of your policy without borrowing, without repaying, and without adding financial stress.

What Is A Life Settlement?

A life settlement is the sale of an existing life insurance policy to a licensed life settlement provider for a lump-sum cash payment.

This amount is typically much more than the cash surrender value and provides immediate liquidity.

Here’s what makes it different from borrowing:

• No repayment required
• No interest charges
• No future premiums
• No risk of policy lapse due to loan imbalances

Once sold, the buyer takes over premium payments, and becomes the beneficiary.
You keep the cash — using it however you choose.

Why Choose A Life Settlement Instead Of Borrowing Against Your Policy?

Borrowing feels familiar, which is why many people consider it first.
But for policy owners who want flexibility and financial relief, a life settlement could be the better path.

1. You Don’t Take On Any Debt

A settlement is not a loan — it’s a cash payout. There is no repayment, no interest, and no risk of the loan snowballing over time.

2. You Free Yourself From Premium Payments

Borrowing doesn’t change your premium obligations.
A life settlement eliminates them.

3. You Can Access More Value Than Surrendering

Surrendering a policy often gives very little in return.
A life settlement taps into the market value of the policy.

4. You Can Protect Your Other Assets

Borrowing can affect financial stability.
A life settlement doesn’t impact your credit, home equity, or savings.

How Seniors Can Use The Cash From A Life Settlement

Life settlement proceeds can be used for anything, including:

• Supplementing income
• Paying off debt
• Covering healthcare or long-term care
• Funding retirement goals
• Supporting children or grandchildren
• Investing in new opportunities
• Completing home projects
• Enjoying travel or lifestyle upgrades

Who Qualifies For A Life Settlement?

You may be a good candidate if you:

• Are 65 or older, or younger with a serious health condition
• Own a whole, universal, variable, or convertible term policy
• Have a policy with a death benefit of $100,000 or more
• No longer want, need, or can comfortably maintain the policy

Even policies that are close to lapsing may still have substantial value on the market.

Why Seniors Choose LifeRoc For Life Settlements

LifeRoc is a trusted direct life settlement provider known for delivering strong, competitive offers through its large, leading network of funders — eliminating  third-party broker commissions, so policy owners keep 100% of their gross offer.

With more than $20 billion in settled policy face amounts in their careers and extensive experience working with seniors, families, and individuals exploring the benefits of life settlements, the LifeRoc Team makes the process fast, clear, and supportive from start to finish. LifeRoc handles every detail—from the initial free policy appraisal to closing—helping you navigate the process with confidence and exceptional service every step of the way.

Your Policy Could Be Worth More Than You Think

Borrowing against your policy is not your only option — and in many cases, it may not be the best one. A life settlement allows you to receive immediate cash at closing without creating debt or long-term obligations.

Before you borrow, surrender, or let your policy lapse, it’s worth discovering what it may be worth.

Request your free, no-obligation policy appraisal from LifeRoc today.
It’s fast, simple, and could unlock financial options you didn’t know were available.

Contact us today to learn more about your options. Fill out the form below or give us a call at (833)678-7355 —
our team is here to help you every step of the way.

Have more questions? Visit our Frequently Asked Questions Page