A life settlement occurs when someone sells their life insurance policy to a third party for a one-time cash sum. People choose to cash out their life insurance policy before death for a wide range of reasons, but here are some of the most common: Your dependents are...
Let’s start with a definition, because there’s some confusion as to exactly what long-term care insurance is. Long-term care insurance, also known as elder care insurance, does something that traditional health insurance does not—it covers the costs of long-term...
There are a variety of reasons you, as a life insurance policy holder, may choose to sell your policy to a third party for a one-time cash payment, known as a settlement. A life settlement is an option for policyholders that are at least 65 years old and have a policy...
If you have a life insurance policy, you may be wondering if you’re able to sell it. Maybe you’re getting older or your finances have changed and you no longer want to make a monthly payment. Regardless of the reason, we’ve put together this comprehensive guide to...
A term life insurance policy is one in which you pay monthly premiums for a defined period of time, generally between 10 and 30 years, and in return, the insurance company pays out a death benefit—an agreed upon amount of money—should you die during that time...
As Americans near retirement age, they may discover the existence of life insurance settlements. The concept is simple—life insurance policy holders are legally allowed to sell their policies to a third party for a one-time lump sum cash payment, or settlement. There...
A whole life insurance policy is what many people think of when they hear the term life insurance. It’s a traditional form of life insurance, into which the insured makes regularly-scheduled premium payments throughout their lifetime, unlike term life insurance, which...
As the owner of a life insurance policy, you have certain expectations and rights. One of those rights is the ability to sell that policy to a third party for an immediate, one-time lump sum payment, or settlement. Whatever your policy type—term, group, universal—they...
