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What are life insurance settlements?

Life insurance settlements allow a life insurance policy owner to sell an existing policy to a financial institution in exchange for immediate lump sum cash settlement. The amount paid for the policy is a discounted percentage of the policy’s net death benefit and represents the present day value of the policy. This purchase price is determined by considering the insured’s estimated life expectancy and the associated cost of premiums to keep the policy in force for that timeframe.

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