What is Life Settlement?
Life settlement refers to an old-aged policy owner (65 or above) selling unwanted life insurance policy to a life settlement provider (buyer) and receive an immediate cash payment considerably larger than the cash surrender value offered by insurance carrier. Life settlement was first introduced in the U.S. in 1980s, initially targeted to help terminally ill policy owners e.g. those contracted with AIDS. The market has now evolved to also help the...read more