Life settlement insurance or a life settlement is the sale of a life insurance policy for less than the death benefit, but more than the cash surrender value. In a life settlement insurance transaction the cash offer can be as much as 10% more than the cash surrender value. If you are a senior and you are considering letting your life insurance policy lapse or settling for the cash surrender value, life settlement insurance is something you will want to consider.
Seniors also consider life settlement insurance when they have a personal change such as death or divorce and no longer need their life insurance policy, or if a policy is under performing. If you no longer need a life insurance policy to cover the financial needs of a certain beneficiary, you can enter into a life settlement transaction and sell your policy for cash. Likewise, if you have an policy, you have the option to sell your policy for cash and purchase a new policy that better suits your needs.
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