Sale transaction that took place in life insurance policy is called life settlements. The policy will result in cash payment of all benefits during maturity period. It’s a settlement policy whereby an insurance company will pay their customers via third party.
Sale of life settlements normally occurs when the customer feel that he/she is not interested to have their policies. Therefore, they only can get a payment from a third party or life Settlement company.
The amount of payment will for life settlements depends on certain criteria such as age and the current value of the policy. Among a common reason why people want to apply for life settlements is because of their age and because of that, they find that it is unnecessary to have an insurance policy.
life settlements
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