Why would a policy owner want to sell their life insurance policy?
A life insurance policy is the property of the owner. A policy may be sold when the insured adult (age 65 or older) has determined that he or she no longer wants or needs the policy. This may arise in circumstances such as business owned policies where the insured is no longer connected to the business, or where the insurance proceeds are no longer needed to pay estate taxes or final expenses. The contract may be sold for any reason that the owner may desire. What type of policy is typically purchased in a Life Settlement transaction? Policies typically include: whole life, universal life, variable universal life, second to die universal, second to die variable universal, and convertible term policies of qualified seniors. Who will be responsible for premium payments after the sale of the policy? The purchasing party will be responsible for all premium payments, after the sale is final. Is the process confidential? Yes. All transactions are guided by the highest standard of confidentia
