All You Wanted To Know About Life Settlement
With Life Settlement being an option for the senior citizens, managing retirement has become easy. Before we head towards details on this topic, let us understand the term first- What Is Life Settlement After All? It is selling of an existing life insurance policy to the third party to get more value on its cash surrender amount, but lesser than the death benefit. The investors serve as the purchaser and are responsible for paying the client the cash amount. The Need For Life Settlement This is an option for senior citizens who can no longer pay the high premiums of life insurance policy. These amounts help them to manage their retirement benefits, get financial independence, for medical care expenses, etc. Nevertheless, the life settlement option is for senior citizens only, who are above 65 and have a life expectancy of two to ten years, regardless of any illness. So How Does One Go On With The Settlement Of Life Insurance Policy? There are purchasers of life in