The big debate about life settlements is whether they are an excellent resource to tap when cash is needed – a boon – or they are ripoffs which should be avoided. Life settlements involve the sale of existing life insurance policies to a Third Party. While there are many types of life insurance contracts that can be sold in a settlement, the amount of cash an insured will receive is greater when the insured is older and the cost to keep coverage in force until the insured dies can be more accurately projected. The answer as to whether settlements are a ripoff or a boon depends largely upon the circumstances under which the sale is made. If an insured can no longer afford coverage – perhaps due to failing health and rising Long Term Care costs – and there aren’t any other liquid assets they can convert to cash to continue their quality of care, settlements can be used to generate more cash than if the insured were to cash in the policy. This would definitely fall into the category of “boon.” On the other hand, if an insured becomes involved in life settlements with an unethical broker who does not have the client’s best interests in mind and who convinces the client to sell at below market prices in order to make a quick commission – that is the definition of a ripoff. Before you get started, learn more about settlements and get an honest estimate of what your policy might be worth by going to this link LIVEpdq