How do I sell a life insurance policy?
In order to sell a life insurance policy, you must find a buyer. You can do this on your own or use a life settlement broker to find offers to purchase your policy. You will likely be required to provide insurance policy documents and your medical records to the potential buyer (settlement provider).
Can I Sell my Life insurance policy to a third party?
You can sell your policy to a third party for cash. The third party pays your premiums and receives the death benefit when you die. If you no longer want your life insurance coverage, you may be able to sell your policy to a third party for a cash payout.
Should I use a broker to sell my life insurance?
Depending on your situation, a broker may be a good choice, but they will take a percentage of your settlement as a commission – sometimes 20% or more. That could be a huge amount of money depending on the value of your policy.