Can I Sell My Life Insurance Policy?

With rising costs in long term care and the explosion of Americans entering retirement, many seniors have found themselves asking, “Can I sell my life insurance policy?”  The answer to this question is a qualified “yes”.  Although life settlements have become a well regulated safe tool to help seniors generate cash, there is still an woeful lack of information available to help those most in need.

In the United States, life insurance is a valuable and commonly used financial instrument. As of 2015, there were 280.82 million individual life insurance policies in force among U.S. citizens, with a total face value well exceeding $10 trillion. Group insurance policies, which were valued at $8.21 trillion in 2015, accounted for at least an additional 113 million policies.

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