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Can I sell my life insurance?
Yes. There are two ways- a viatical contract or life settlement.
Viaticals allow people who are terminally ill to sell their life insurance policy for a percentage of its face value. Some viatical arrangements are private, perhaps among family members. These days, viaticals have become big business, with viatical companies luring investors to buy policies in bulk. We have information on viaticals in our Viatical library, including consumer tips
In addition, "life settlements" or "senior settlement" contracts allow healthy policyholders to got out of life insurance policies that they may not need anymore and get more than just the surrender value of the policy. For more, see Life settlements: To sell or not to sell?
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