What Is a Life Settlement?

What Is a Life Settlement?

A life settlement allows a person to sell a life insurance policy and receive a cash amount higher than the cash surrender value. The policy ownership is transferred to an unrelated investor in exchange for a cash payment in excess of the policy’s cash surrender value.

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Spotlight on: Life Settlements

Spotlight on: Life Settlements

Before you let that old, unwanted life insurance policy lapse, it may be wise to check all of your options.  Better yet, check to see if your policy could be sold for cash to investors.  You could have a pleasant surprise ahead. What is a Life Settlement? The process of selling an unwanted or unneeded life insurance policy is called life settlement.  The amount you will receive will be less than the face value but…

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How Can I Cash In My Life Insurance Policy When I’m Older?

How Can I Cash In My Life Insurance Policy When I’m Older?

It’s called a “life settlement” and it’s one way seniors can cash in on their life insurance policies. Those who no longer want to pay premiums or have any need for the coverage are often able to demand higher prices when selling their life insurance to an investor rather than their insurance company. Policies sold by those approaching the end of their lives are particularly valuable, according to a recent report by NBC.

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Why is stranger-oriented insurance an opportunity for fraud?

Why is stranger-oriented insurance an opportunity for fraud?

Investors may be able to receive significant profits through purchasing an elderly or ill individual’s life insurance policy through a life settlement.

They may also benefit through selling variable annuities. Individuals who sell these assets through a stranger-originated transaction, however, may be targeted by fraud, according to the Life Insurance Settlement Association.

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