A life settlement is the sale of an existing life insurance policy to a third party for more than its cash surrender value, but less than its net death benefit. There are a number of reasons that a policy owner may choose to sell his or her life insurance policy. The policy owner may no longer need or want his or her policy, he or she may wish to purchase a different kind of life insurance policy, or premium payments may no longer be affordable. Policy owners often learn about settling their policies from a financial planner or advisor, insurance broker, attorney, friends or family, or estate planning presentations.
Read more about Life Settlement: Life Settlement History, Providers, Brokers, Investors, Life Expectancy Providers, Stranger-Originated Life Insurance ("STOLI"), Regulation, Major Study Findings
Famous quotes containing the words life and/or settlement:
“In the twentieth century, death terrifies men less than the absence of real life. All these dead, mechanized, specialized actions, stealing a little bit of life a thousand times a day until the mind and body are exhausted, until that death which is not the end of life but the final saturation with absence.”
—Raoul Vaneigem (b. 1934)
“The Puritans, to keep the remembrance of their unity one with another, and of their peaceful compact with the Indians, named their forest settlement CONCORD.”
—Ralph Waldo Emerson (1803–1882)