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:
“Tell me not, in mournful numbers,
Life is but an empty dream!—
For the soul is dead that slumbers,
And things are not what they seem.
Life is real! Life is earnest!
And the grave is not its goal;
Dust thou art, to dust returnest,
Was not spoken of the soul.”
—Henry Wadsworth Longfellow (1809–1882)
“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)