Retained Death Benefit in Fort Lauderdale: Access Cash Now While Keeping Coverage for Your Loved Ones

Many Fort Lauderdale residents are unaware that their life insurance policy can offer flexibility beyond traditional coverage. If you no longer need your full policy—or if premiums have become too expensive—you don’t have to give up your entire benefit. A Retained Death Benefit allows you to access cash today while still leaving a portion of the death benefit for your beneficiaries.

At Summit Life Insurance, we specialize in helping clients explore the Retained Death Benefit in Fort Lauderdale as part of our life settlement solutions, giving you the best of both worlds: immediate funds and lasting protection for your loved ones.

What Is a Retained Death Benefit?

A Retained Death Benefit is an option available during a life settlement transaction. It enables you to sell a portion of your life insurance policy for an upfront cash payout, while still keeping part of the death benefit intact for your beneficiaries.

Here’s how it works:

• You sell part of your policy to a licensed buyer for a lump-sum payment.

• The buyer takes over future premium payments, relieving you of that financial burden.

• Your beneficiaries still receive a guaranteed death benefit when the policy matures.

This solution provides flexibility for Fort Lauderdale residents seeking financial relief today without sacrificing all future coverage.

Who Can Benefit from a Retained Death Benefit in Fort Lauderdale?

A Retained Death Benefit is ideal for individuals who:

• Find life insurance premium payments unaffordable.

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

• No longer need the full coverage amount but still want to leave something for loved ones.

• Are considering surrendering their policy but want more value than the surrender cash value.

Summit Life Insurance offers free policy reviews to help Fort Lauderdale residents determine whether they qualify for an RDB option.

Benefits of Choosing a Retained Death Benefit

The Retained Death Benefit option provides several key advantages:

• Immediate Cash Access: Get funds to cover urgent needs like healthcare, long-term care, or improving your quality of life.

• No Future Premium Payments: The buyer assumes premium obligations, saving you money.

• Protect Loved Ones’ Future: Even after selling part of your policy, your beneficiaries still receive a guaranteed benefit.

• Flexible Financial Planning: Use your cash payout for any purpose—medical care, debt repayment, or retirement savings.

• Peace of Mind: Enjoy current financial security while still caring for your family’s future.

The Summit Life Insurance Process

At Summit Life Insurance, we make accessing a Retained Death Benefit in Fort Lauderdale simple and stress-free:

1. Free Consultation: We review your policy at no cost or obligation to you.

2. Eligibility Evaluation: Our specialists determine whether your policy qualifies for a retained death benefit option.

3. Competitive Market Bidding: We present your policy to a network of licensed buyers to generate top offers.

4. Offer Selection: We present all available options—including RDB offers—so you can choose what works best.

5. Closing & Support: We handle the paperwork and guide you through a seamless, legal, and transparent process.

Why Choose Summit Life Insurance

Here’s why Fort Lauderdale residents trust Summit Life Insurance for Retained Death Benefit solutions:

• Licensed & Regulated Broker: We comply with Florida’s life settlement laws to ensure your protection.

• Tailored Financial Solutions: We customize settlement options to match your goals and priorities.

• Maximized Payouts: We leverage a network of buyers to secure the highest possible cash offer.

• Transparent Guidance: We explain every step clearly so you can make confident decisions.

• Compassionate Service: We provide personalized, respectful support throughout the process.

Tax Considerations

It’s important to note that proceeds from a retained death benefit may be partially taxable:

• The portion equal to the premiums you’ve paid is generally tax-free.

• Any amount above your premium payments may be subject to ordinary income or capital gains taxes.

Summit Life Insurance recommends consulting with a qualified tax professional in Fort Lauderdale for personalized advice.

Final Thoughts

A Retained Death Benefit in Fort Lauderdale is a flexible solution for those who want to unlock the value of their life insurance policy while maintaining protection for their loved ones.

With Summit Life Insurance, you gain access to experienced professionals who guide you every step of the way, ensuring a smooth, transparent, and rewarding experience.

Contact Summit Life Insurance today to learn more about how a Retained Death Benefit can help you achieve immediate financial relief while keeping your family’s future secure.