Most of you probably have life insurance, right? My husband finally got a really good job and so we were offered life insurance through his work, which is really nice. However, when times get tough, can I sell my life insurance policy? I have heard that you can! If you no longer want or need it, you can sell it.
Can I Sell My Life Insurance Policy?
This is something I am new to hearing about, so I had to do my research, but it is comforting to know I can sell my life insurance policy if I need to. Selling your life insurance policy is better known as a life settlement.
You, the life insurance policyholder, transfer ownership of your policy to a life insurance policy buyer. After you sell your policy, you are no longer responsible for the premiums.
You receive your payout and the life settlement provider (buyer) is now responsible for all the expenses related to your policy that you sold them. Seems easy enough, right?
At Policy Bank, you can easily get an instant estimate of what your policy is worth (usually less than 60 seconds!). That way you know what you will be getting! Then you will be matched with a policy buyer very quickly. This helps to create a smooth selling experience.
The whole process sounds like it would be quick and painless. So, if you were thinking about selling your policy, you can sell it. You just have to do your own research. I would definitely start with Policy Bank, to help you get started! Selling your policy is easier than you thought!
Do you have life insurance?
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