Aug 25
Should you sell your life insurance policy?
There’s been lots of news lately on life settlements and non-recourse premium financing. The million dollar question for many older folks is “should I sell my life insurance policy?”
It sounds good…supplementing your income by collecting fees from investors who wish to bet on your life expectancy. You no longer need your policy because your kids are grown up, so why let it lapse. Why not make some money?
With more than $9 trillian of life insurance in force, Sanford C. Bernstein & Co. estimated last year that the market for “used” policies already topped $13 billion and it could hit $160 billion by 2030, depending on whether Congress kills the estate tax, which is the motive for many purchases of high-dollar life insurance.
More after the jump…
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