Life insurance settlement companies play a role in the insurance business of providing options that did not exist years ago. It is possible to sell a policy for cash and in some cases involving an objectives change or medical emergency, an insured/owner of a life insurance policy can make some effective estate planning moves pertaining to a life settlement. Life insurance settlement companies perform the service of providing cash for a life insurance policy in return for the future rights to the policy. It is a transaction that can not be undone. Medical disclosures on the part of the insured are needed as well as the cost structures of the policy. Proof of ownership of the policy must also be well established as well as any assignments listed as they may prohibit a sale. Life insurance settlement companies can be referred to as funders or purchasers of life insurance policies on the secondary market. I advise hiring an agent/advisor to help you submit your policy to these companies as it is a market that does have set requirements and the information must be presented in a proper form.
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