Coventry promotes secondary market options for life insurance policies

Coventry, a leader in the life insurance secondary market, is using Life Insurance Awareness Month to encourage policyowners and financial advisors to evaluate the actual value of existing policies. The company highlights that while life insurance is vital for estate planning and financial security, many individuals do not realize their policies retain significant value beyond their cash surrender value.

CEO Reid Buerger noted that Americans hold more than $14 trillion in individual life insurance, yet hundreds of billions of dollars in coverage are surrendered or allowed to lapse annually. Coventry suggests that life settlements in the secondary market can serve as a more lucrative alternative to surrendering or lapsing coverage when a policyowner's financial needs change.