Selling Your Life Insurance Policy Appears To Be A Popular TrendArticle Posted by Expert Author: Adam Foley on 04/08/2013
Would you sell your life insurance policy like you sell your house? More people are doing this than you think, and it's been going on for some time now. Those who have been diagnosed with a terminal illness and who need the money for their care are putting their life insurance policy listings on the market, where prospective buyers can view it, conduct research, get inspections, and place an offer.
This completely legal practice, called 'life settlements', is one that is not widely known among many people. And there has been much fraud among brokers who tried to persuade customers to take out life insurance so that they could resell their policies in the near future.
And one of the reasons it may not be widely known could be due to its 'creepy' factor. After all, the sooner a policy holder passes on, the sooner the person who purchased their policy gets a big cash payout. But some are working hard to give the practice a new perspective, saying that it's a completely viable option for those who need financial relief.
Understanding the benefits of a term or whole life insurance policy can help you make the right decisions for your long term future. Let us help you with our comprehensive resource guide.
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