Coventry Direct Reviews - What Is It?
DO NOT USE Coventry Direct!!! You Must Read This Review!
Fully Researched: Price, User Feedback and More!
Your life insurance premiums may be too costly to maintain or you may have more life insurance coverage than it is necessary at present, you may need to spend more money on medical expenses, or you would like to increase your retirement funds - in any case there is a company that will help you sell your life insurance policy (part or all) for cash. It is known as Coventry Direct. Actually, this process is called a life settlement and it intends to help you receive more benefits from your life insurance policy than when it would be surrendered or lapsed. In fact, this company claims that it could help you get four times more than the surrender amount! You will need to simply complete an online form to check if you qualify. You probably have a lot of questions about your life insurance policy. Let us take a look at the details behind this process, its pros and cons.
A life settlement presupposes selling of a life insurance policy to another person for a value that exceeds the policy's cash surrender value, but lower than its face value, or death benefit. The initial owner of the policy gets money, while the buyer of the policy receives all future payments and the death benefit. As a life insurance policy is property, such actions are possible because, similar to bonds and stocks. It can be borrowed against for a loan too. In this way, a part of each payment goes toward increasing the cash value of a life insurance policy. It means that a person who's paid on their policy for twenty years will have more cash value at stake than the one who's been making payments for five years, for example. Depending on the policy type (e.g. universal, whole, variable, etc.), it can also gain cash value in other ways. It can be determined by the current interest rates, carrier, subaccounts like bonds and stocks, etc.
Customer Reviews - Does Coventry Direct Really Work?
Coventry Direct is a well-known marketing company. It acts as a referral service advertising policies to investors who sometimes try to outbid one another. It seems that the company will qualify your policy before submitting it to investors. It can be determined by the type of your insurance policy, your age, your health and the premiums. You need to be at least 65 years old (or have had serious health issues) with a life insurance policy face value higher than $100K. You can find a great number of customer reviews on Coventry Direct online. Considering the long period of time during which the company has been in business, it is a good sign. Keep in mind the fact that Coventry Direct is the largest life settlement company in the field. More than $3 billion has been purchased until our research. The customers are satisfied with their experience from the cooperation process with the company. Actually, the vast majority of the online reviews for the company carry a positive character. Its clients seem to be especially pleased with the customer service saying that the team of specialists is very friendly and pleasant to talk to.
Separate users praise the company for its attention and care for each individual. For example, one old man writes that he is 70 and has poor health. He can't even afford his monthly payments. But due to selling his life insurance premiums the man received a total cash value of $50K. He is very happy because now he can significantly improve his health and pay all of his monthly bills. The company is happy that they can help such people every day. However, if that man were to surrender his policy to the carrier, he might only receive some $6K. The company promises that they can arrange to buy your policy as expensive as for $180K. It might be less than the actual value of the policy, but more than the amount of money you would get if you were to surrender the coverage. Sorry to say, but when you pass away, the company will cash in your policy and get the full $250K. It means that they get a $70K profit. It would be a wise decision to take a look at the real users' reviews left on different websites online. Here are some of them.
"My mom has just turned 90 and she realized that her life insurance premiums have become expensive for her. She is sure that this investment was wise, but she turned out to live longer than she expected. Now, she cannot cope with her payments. This was the reason why we contacted Coventry Direct. Tyson Mayer was the rep to work with. He carefully listened to our situation and helped us sell the policies for a high price. Tyson worked very professionally and returned our calls even when he was on vacation. It took us three months to complete the procedure. My Mom was happy to get the amount of money she was hoping for. Thank you, Tyson. My Mom is better now and does not have to worry about money when she needs extra care."
"I saw an advertisement on Coventry Direct on TV in early May and decided to contact them immediately. I talked to Mr. Tyson Mayer, Regional Vice President for Coventry, who sent me authorization forms. I returned them in a few days. In a week Mr. Tyson contacted me to inform me he had received doctors' letters and several offers. Finally, I received an acceptable offer for my policy and Mr. Mayer finalized the contract. In less than a month the specialist called me and told me that the policy title had been transferred. To make the story short, during the entire process I was completely satisfied with the company and Mr. Tyson's work. He was always concerned with my condition, cordial, and informative. I would highly recommend this company to my friends and family members."
"We had excellent experience with Coventry Direct from the first phone call until the moment when we received our money in our bank account. Our contact person was named Kelly Rooney. The woman took care of us and studied our situation thoroughly. She supported us in our pain because of my husband's cancer. She called us frequently and asked about his health. We got things done rather quickly, even though our case was quite difficult. I will advise others to go to this company when there seems to be no hope. Thanks for everything."
My Final Summary
Coventry Direct is associated with a number of advantages. As it was mentioned above, probably the biggest advantage of selling a life insurance policy is an opportunity to get cash for spending on retirement funds, medical expenses, or anything else. A life settlement can be much more beneficial than you may think. It depends on the reason why you are selling it (for instance, when you can no longer afford the premium). The main disadvantage of selling a life insurance policy is that the amount given during life of its owner is much lower than that paid to their spouses and heirs when they have passed. In addition, a life settlement may be taxed as income. However, you may really need Coventry Direct services depending on your life circumstances and health issues. Taking into account all pros and cons of a life settlement, I can recommend Coventry Direct.
Coventry Direct Pricing and Rates
You can visit Coventry Direct official website and fill in the online form to start cooperation with this company. Selling a life insurance policy costs completely nothing in the beginning of the process, but when receiving money from the bargain, the company will also get its profit depending on the price of your life insurance.