Company-owned key man policy on a retiring business owner. Due to the costly conversion premium, the company planned to lapse the policy. The retiring business owner negotiated for the policy ownership to be transferred to him. Afterward, his advisor suggested he have his life insurance policy asset appraised for secondary market value.
Surrendering policy and interested in receiving more money
Adult children unable to pay premiums to maintain the policy.
Liquidity constraints reduced donations
Cash created donation for the charity she loves.
Financial ripple effect caused reductions in cash flow
Used the cash to fund their livelihood.
