Traditional life settlement
A traditional life settlement is the sale of a life insurance policy to a licensed buyer for an amount higher than the cash surrender value but lower than the death benefit.
People who are eligible to sell their life insurance are generally over 65 and have some health issues that affect life expectancy.
Why sell your life insurance?
- Get rid of costly premiums
- Fund your retirement
- Pay for medical procedures
- Supplement your income
- Get cash before your plan expires
- Your beneficiaries no longer need your death benefit