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A life settlement or viatical settlement (from Latin viaticum, something received before death) [1] is the sale of an existing life insurance policy (typically of seniors) for more than its cash surrender value, but less than its net death benefit, [2] to a third party investor. [3]
Surrender your policy: Permanent life insurance policies with cash value can be surrendered, allowing you to receive the surrender value — the cash value minus any fees or outstanding balances ...
The ins and outs of life insurance can be complex. That can be especially true if you want to sell your life insurance policy. There are two types of settlements: life settlements and viatical ...
If you have a term life insurance policy. Term life insurance provides coverage for a specified period, such as 10, 20 or 30 years. It’s a popular choice for those seeking affordable coverage ...
Group life insurance (also known as wholesale life insurance or institutional life insurance) is term insurance covering a group of people, usually employees of a company, members of a union or association, or members of a pension or superannuation fund. Individual proof of insurability is not normally a consideration in its underwriting.
The determination of the cash value, both the base amount and the applicable surrender charge, in the contract can be explicit by determining the value for each surrender date (guaranteed cash values), by referring to the value of specific investments or subject to the discretion of the insurance company, which is often executed to bring cash values in line with values of the investments of ...
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