Retained Death Benefit in Fort Lauderdale: A Smart Way to Protect Your Legacy

Selling your life insurance policy doesn’t always mean giving up your entire death benefit. With a retained death benefit option, you can sell your policy for immediate cash while still keeping a portion of the death benefit for your loved ones.

At Summit Life Insurance, we help Fort Lauderdale residents explore retained death benefit plans that provide financial flexibility without sacrificing long-term protection for their beneficiaries.

What Is a Retained Death Benefit?

A retained death benefit is a feature offered during a life settlement transaction. Instead of selling 100% of your life insurance policy, you sell only part of it.

Here’s how it works:

• The buyer takes over the premiums and owns part of the policy.

• You receive an immediate lump-sum payment for the portion sold.

• You keep a percentage of the death benefit, which will go to your beneficiaries when you pass away.

This option combines the advantages of getting cash now with the peace of mind that your loved ones remain protected.

Why Consider Retained Death Benefit in Fort Lauderdale?

Life circumstances change, and so do your insurance needs. A retained death benefit can be a valuable solution for Fort Lauderdale residents who:

• Want to reduce or eliminate premium payments but keep some coverage.

• Need immediate cash for medical expenses, retirement, or debt repayment.

• Want to ensure financial support for their beneficiaries.

• Are considering a life settlement but don’t want to lose all death benefit protection.

At Summit Life Insurance, we’ve helped many clients customize solutions that balance short-term financial needs with long-term family security.

Key Benefits of Retained Death Benefit

Choosing a retained death benefit through a reputable broker like Summit Life Insurance offers:

• Dual Financial Advantage: Receive a cash payout now and maintain a portion of your policy’s death benefit.

• No More Premiums: Buyers usually take over future premium payments.

• Flexible Structure: You can determine how much of the policy to retain.

• Better Than Surrendering: Often provides more value than simply surrendering the policy back to the insurer.

• Security for Loved Ones: Ensures your family still receives financial support after your passing.

How Retained Death Benefit Works: Step-by-Step

At Summit Life Insurance, our process is straightforward and transparent:

1. Free Consultation: We assess your financial goals and explain your options.

2. Policy Evaluation: We determine your eligibility for a life settlement with a retained death benefit.

3. Market Outreach: We connect with multiple institutional buyers to find competitive offers.

4. Offer Presentation: We explain each offer, including the retained death benefit portion, so you can make an informed choice.

5. Secure Closing: Once you accept an offer, we handle all paperwork for a smooth, regulated transaction.

Retained Death Benefit vs. Full Life Settlement

It’s important to understand how a retained death benefit differs from a standard life settlement:

With Summit Life Insurance, we’ll help you weigh both options to find the best fit for your financial situation.

Who Qualifies for Retained Death Benefit?

You may qualify for a retained death benefit in Fort Lauderdale if you:

• Are generally 65 or older or have experienced significant health changes.

• Own a life insurance policy with a face value of $100,000 or more.

• Are looking to reduce or eliminate premium payments.

• Want to secure immediate cash while keeping some coverage for your beneficiaries.

Our experts at Summit Life Insurance will walk you through the qualification process and answer all your questions.

Why Choose Summit Life Insurance in Fort Lauderdale

Selecting the right partner is crucial when considering a retained death benefit option. Here’s why clients trust Summit Life Insurance:

• Licensed & Regulated Broker: We comply with all Florida life settlement laws.

• Tailored Solutions: We customize offers to match your goals.

• Competitive Offers: We present your policy to multiple buyers to get the best deal.

• Transparency & Trust: We explain every step clearly and handle your information securely.

• Local Expertise: We understand the needs of Fort Lauderdale residents.

Final Thoughts

A retained death benefit in Fort Lauderdale is an excellent solution for policyholders who need immediate cash but still want to provide for their loved ones. With the guidance of Summit Life Insurance, you can unlock the value of your life insurance policy while keeping part of your death benefit intact.

Contact Summit Life Insurance today for a free consultation to see how a retained death benefit could help you balance your present and future financial needs.