What You Should Know About Life Settlements
Life insurance is an indispensable tool, especially in your old age. There is a marketplace for everything nowadays including life insurance policies. The transaction whereby someone, often senior citizens, sells their life insurance policies to a third party in exchange for cash is called a life settlement. The insurance is usually sold to an individual or entity that did not issue the policy. Life settlements can have unintended consequences, so you should know as much as you can about them. It is especially difficult to evaluate if you are getting a fair price for your policy. The following are some things you should know about life settlements:
How Life Settlements Work
Life insurance policies are meant to pay out the stipulated funds to the beneficiaries once the policy...