May 20
Selling your life insurance policy in a life settlement
If you’re not familiar with life settlements or viaticals this is a great story from the Washington Post to read. But here’s the gist: there are companies out there called Life settlement companies that offer life insurance policyholders to buy their policies. Types of life insurance that these investors are interested in include both term life and permanent. Usually, the policyholder is offered more money than they could get by surrendering policies.
The problem I have with these is that this is a highly unregulated industry and these types of transactions could lead to homicide because the transactions give investors a vested interest in the insured’s death. Read the article and you’ll see that finally, someone gets what I’ve been talking about for years….the creepiness factor in the life settlement industry.
What are your thoughts?
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