A Life Settlement is the sale of a life insurance policy to a third party for a value in excess of the cash surrender value, but less than the death benefit
Life Settlements represent an important solution for a growing number of people who thought they were stuck with a life insurance policy they no longer need. Many people do not realize a life insurance policy is their personal property and can be sold.
- The seller receives cash
- The buyer pays all future premiums
- The buyer receives the death benefit upon the death of insured