Reason #4 To Sell Your Life Insurance… Divorce
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.
When going through a divorce, assets are cataloged and divided. However, life insurance is often forgotten. Selling Life Insurance is an alternative to lapsing a policy on your ex-spouse.