By: Kimberly Lankford

Kenneth Sahs, 71, faced a once-in-a-lifetime decision last year. His $500,000 convertible term life insurance policy would soon expire. Sahs could drop it and get nothing or convert it to universal life, a form of cash-value insurance, and take on $12,000 a year in premiums.

Then Sahs and his wife, Marie, read in Kiplinger’s that they had a third choice: to sell the policy to an investor. To their delight, the Sahses got a quick $125,000. No more eventual death benefits, but no more premiums, either. “Insurance companies don’t tell you there are opportunities like that,” says Marie. “It’s like a treasure chest you don’t know to look for.”

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