Once you have agreed to sell your policy, you must complete a life settlement interview. The life settlement interview is conducted after the buyer of the life insurance policy has received the signed contracts from the policy owner.
While the life settlement interview may simply be a formality, it is a required step from all life settlement buyers. The reason they mandate this is because they want to confirm you are a live person and to help protect them legally by making sure you understand what you are doing. They want to make you feel comfortable and develop a relationship since they will need to remain in contact with the insured. Since they will now be the beneficiary of the policy, they can only collect the death proceeds when the insured passes away. They like to communicate with the insured every three months since it is difficult for them to find out when the insureds pass away for the policies they own.
For more information about a life settlements, click the LIVEpdq.