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A life insurance policy is your personal property. That means you can sell it like any other asset. But should you?
Here’s everything you need to know.
What Is a Life Settlement?
Selling your life insurance policy to a third party is known as a life settlement.
It’s an option for older adults who no longer need their life insurance policy or who can no longer afford the policy’s monthly premiums.
As you might have guessed, there’s a catch. A few actually.
Transaction costs can be high and your heirs won’t receive any money from
