Isn't it a shame we can't all take out funeral insurance on a dead investment? Probably if we could, then there would be far less likelihood of having any investment 'die' on us! I am getting very cynical in my wisdom as I grow older.
But now is not the time to sell your structured settlement policy. I think with Christmas just around the corner some people are probably thinking of passing it in or at least taking out a cash advance against it. A small cash advance probably wouldn't do too much harm but to take out a large loan against it at this point in time is probably not the brightest idea for you.
Everyone (by that I mean the average Jill and Joe) are struggling this season with a cash flow shortage. Borrowing heavily against a soon-to-mature policy is not a good idea.
The reason I believe this is because the interest rate on borrowings will rise over the next 12 months and if your income is on the decline, you will end up with worse financial problems.
As always, it's your decision whether to sell or hold, and I am simply advising against it. Hopefully, I'm wrong. But what if I'm right?
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