why choose a life settlement
there are many reasons why people choose to sell their life insurance policies and are usually only done when the insured person doesn t have a known life threatening illness the majority of people who sell their policies for a life settlement tend to be older people those who need money for retirement but haven t been able to save up enough that s why life settlements are often called senior settlements by receiving a cash payout the insured party can supplement their retirement income with a largely tax free payout other reasons for choosing a life settlement include life settlements generally net the seller more than the policy s surrender value but less than its death benefit life settlements vs viatical settlementspolicy sales became popular during the 1980s when people living with aids had life insurance they didn t need this led to another part of the industry the viatical settlement industry where people who have terminal illnesses sell their policies for cash this part of the industry lost its luster after people with aids began living longer 