A life settlement policy is a life insurance policy that is being offered for sale to a life settlement company. A life settlement policy can be a term policy, whole life policy, universal life policy or occasionally we see a variable life insurance policy offered as a life settlement. Typically the insured person for a life settlement is over 65 and fair to good health. A life settlement policy can be owned by many different entities, we see corporations, businesses, individuals and trusts as owners of life settlement policies.
Typically to qualify as a life settlement the policy needs to have been in force for more than two years and have been issued by an insurance company with good financial standing. If you have a policy you are considering offering as a life settlement please, contact a qualified life settlement broker to discuss your expectations and get a good idea of what your policy may be worth.
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