In recent years, more insurance companies have offered policyholders cash incentives for surrendering their life insurance policies. These offers, known as “enhanced cash surrender value” (ECSV), have raised concerns among legislators and those in the life settlement industry, who argue that these offers take advantage of vulnerable policyholders and can even be discriminatory in practice.
It’s also important to understand that while some ECSV offers may provide good value, it’s up to you to help your clients get the most out of any life policy they’re looking to sell. There are instances where these carrier buybacks may not offer fair market value, so it’s essential to do your research before advising your clients on any kind of decision about selling their life insurance policy.
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