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life insurance settlement

life insurance settlement is when the policy holder sells his or her life insurance policy for a cash amount.  This settlement stops the monthly premium payments for the policy holder.  The buyer of the life insurance policy, usually an investor/financial institution, continues the premium payments and receives the death benefits when the insured dies.


The two kinds of life insurance settlements depend on the health of the insured.  Senior or Life Settlements are for policy holders over 65 who are not terminally ill and have decided that they do not want or need the policy anymore or the policy is becoming too expensive and they don't have the income to pay for the premiums.  Viatical settlements are for those who are terminally ill.


The sale price is determined by the fair market value of the policy.  Here is an article on fair market value: https://www.calbrokermag.com/Magazine/story/april/LifeSettlements-Mountain.htm.  


Companies who will buy your policy:





Check out a company with the Better Business Bureau before you do business with them:  https://search.bbb.org/search.html.


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