Life Settlements
A planning technique that includes the sale of a life insurance policy to a qualified institutional buyer in exchange for an amount that exceeds the surrender cash value.
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A life settlement is the sale of an existing life insurance policy to a third-party investor. This process involves transferring ownership of your existing life insurance policy in exchange for a lump sum of cash. You can receive an immediate cash payment that is typically greater than the policy's surrender value but less than the full death benefit. Ownership and beneficiary rights of the policy are transferred to a licensed buyer, often an institutional investment group or fund. Offers are influenced by factors such as your age, life expectancy, and specific policy details. The buyer assumes responsibility for paying all future premiums, reserves the right to check in on your health, and will collect the entire death benefit upon your passing. It's important to note that your beneficiaries will not receive the death benefit after the sale.