Life Settlement at Life

Life Settlement. Kroll law corporation are experts in life insurance and life settlement law. A life settlement is a financial transaction in which a life insurance policy is sold on the open market for a value greater than the policy surrender value (the cash value of the policy which the insurance company will pay to “repurchase” the policy) but less than the full policy benefit value.

A life settlement typically occurs when someone of retirement age is looking to get access to the value of their policy as an extra source of income. The amount of money received is somewhere between the cash. What is a life settlement?

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The payment may be in the form of cash, a new policy with no future premiums, or a combination of both. What is a life settlement? In a “life settlement” transaction, a life insurance policy owner sells his or her policy to an investor in exchange for a lump sum payment. The total amount of cash received is more than the policy’s cash surrender value but less than the death benefit.