There are 3 main reasons that policyholders choose to sell their life insurance. The sale is done through a life settlement where the buyer assumes ownership of the policy and the seller receives a cash payout. The buyer takes responsibility for paying premiums and receives the death benefits when the seller passes. When a person
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Individuals generally buy life insurance in order to provide their family members a sum of money after they die. That money can help cover funeral costs, be used towards outstanding debt, or simply give financial relief to the recipients. With life settlements; however, the policyholder does not have to die in order to collect that
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