The Real Secret the Life Insurance Company Doesn’t Want You to Know.

To Understand Insurance Policy Lapse

If you have downloaded this paper, you are already worlds ahead of the other people who are considering letting their life insurance lapse or accepting the “cash surrender value”.

To understand why, lets step back for a moment. The folks we speak to everyday are generally hard working, responsible people that have kept their life insurance in place for many years but now are considering whether that continues to make sense, generally speaking, for one of four reasons,

1. Life Insurance is No Longer Needed:

  • Maybe the beneficiaries are all grown-up and successful and paying for life insurance for their inheritance just doesn’t make sense.
  • Sometime a spouse the insurance was meant to protect predeceased the insured.
  • On occasion, the insured’s estate is significant enough that maintaining life insurance is just an unnecessary expense.

2. Life Insurance is Just Too Expensive:

Many potential customers come to us simply because they do not want to pay the premiums anymore but also don’t want to “give up the policy” for nothing.

3. Major Life Event:

Sometimes people reach out to us because a major life event like an illness necessitates them raising money.

4. Enjoying Life:

A good number of people come to us because they just don’t need the coverage anymore and the prospect of getting a lump sum of cash is appealing in order to enjoy life, travel, and help family members.

The mistake that many people make is that instead of talking to us at First Heritage Funding and seeing how much we can pay them for their life insurance policy, they either let the policy lapse or take pennies as a surrender value from the life insurance carrier.  If you take anything away from this paper, DO NOT LET YOUR LIFE INSURANCE LAPSE OR ACCEPT THE SURRENDER VALUE WITHOUT TALKING TO US FIRST.

First Heritage Funding: Business Model

You may be thinking…
How could this company pay me more for my policy than the large nationally known life insurance company?

That’s a reasonable question. Part of the answer is that a good deal of the insurance company’s business model is allowing life insurance policies to lapse. As a 2016 article from the University of Pennsylvania’s Wharton Business School noted “life insurance companies earn large profits on clients who terminate their policies”. For example, in 2000 “over $1.5 TRILLION in coverage was forfeited.” That means all the policy premiums paid by people like you over the years for that $1.5 trillion dollars in coverage ended up being a huge profit for the insurance companies because the policies were allowed to lapse and not claim ever had to be paid.

As the University of Pennsylania article points out: “[making] profit from policies that lapse is a taboo topic in the life insurance industry.” They don’t want you to know that they are actually banking on you making the wrong decision. The reality is they profit based on people will make the wrong decision. This results in responsible, thoughtful people literally paying trillions of dollars of premiums and those very same life insurance companies allowing their customers to let the policies lapse so they do not have to pay out a penny.

This is where First Heritage Funding comes in. We break the cycle. We don’t want you to pay years of premiums just to end up with nothing. We know that for years you paid your hard-earned money to keep your policy in force to protect your loved ones. Now is not the time to walk away and accept nothing.

Our Business Model Is Simple And Obvious

We pay you an immediate lump sum of cash (significantly more than the cash surrender value), and we keep making the premium payments on your life insurance. You have no further financial obligation to the life insurance company or anyone else whatsoever. We only get our money back when you pass (and we hope that is not for a very long time). This breaks the cycle that the life insurance company is banking on by making sure you get something for all the years you paid for the policy and ensures they pay out their contractual obligation.

The process of finding how much your life policy is worth is a very straightforward, transparent and you are in control the entire time. In fact, at any time before you get the money, you can decide it’s not right for you and simply walk away. We understand that it’s a big decision and have the patience and understanding to guide you along the way, so you are comfortable with whatever you decide.

Again, the only wrong decision is to not explore if Firs Heritage Funding can get you a lump sum and how much. Under no circumstances does it ever make sense to let your policy lapse or take pennies as a surrender value before you see how much we can pay you for your policy. You have spent too much of your hard-earned money over the years to simply let it go and get nothing in return.

Give us a call at: 800-617-7260 or click here and submit this form and we will reach out to your shortly.

Often times we can get you an idea of the approximate size of the lump sum we can pay you in 24 hours and with just a limited number of questions.