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What types of life insurance are eligible for life settlements?

April 26, 2017eligible life Life Insurance settlements types

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What types of life insurance are eligible for life settlements?

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Types of policies eligible are term, whole, universal and key man (for businesses) and second-to-die policies (also called survivorship life). The most attractive types for buyers are convertible term life and universal life. Face amounts must be $250,000 or more. Group life insurance is not of interest to life settlement providers, although converting the group policy to an individual policy would make it sellable.