It’s possible to sell your life insurance policy for cash because the idea of selling your policy is known as a life settlement. This process involves selling your policy for money that is less than your death benefit and more than the amount that is in your cash value account. The settlement agent will take over the policy, and they will also pay the monthly premiums until they find a better buyer who is suited for the plan. In this article, we will go through the various aspects that are involved in selling a term life insurance policy.
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