What is a life settlement?

Life settlements are not new. They’ve been around since at least 1911, and provide a way for people to cash in their life insurance and live to tell about it. In other words, you receive a smaller settlement now, in exchange for access to your money prior to your death.

This allows people with large life insurance polices to have access to some of the cash now – the new owner of the policy keeps the policy in force and earns a profit on the difference between your settlement amount and the face value of the policy.

Are life settlments right for me?

Maybe. It depends on your financial situation, what your long-term financial goals are, and how much your survivors will need the life insurance.

What is a settlement quote?

A settlement quote allows you to find out how much an investor would be willing to pay for your life insurance policy. They’re usually available at no cost to you, and as soon as I learn some more about them, I’ll share my findings with you here