Sell your life insurance policy
Let us explain a little bit and then tell you why you should. The name has changed from “viaticals” to “life settlements” but the concept is relatively the same however you don”t have to be terminally ill to sell your life insurance policy. If you”re not familiar with the secondary life insurance market, here’’s how it works. Say you”re a 65 year old with a $1 million permanent life insurance policy who no longer has a need for it. A life settlement company may offer you 10 to 25 percent of the policy’’s face value. That’’s anywhere from $100,000 plus (much more than you”d get by simply cashing in the policy). They would then own the policy and pay the premiums. When you die, the investor would get the death benefit of $1 million.