Many people find after paying into a policy for years, the policy is not performing as they hoped it would or they’d just rather not keep the policy. Instead of letting the policy expire by not paying the premiums, some people can take advantage of life settlement options. A traditional life settlement is a financial transaction in which the policy owner of an undesirable, ill performing or not wanted life insurance policy sells the policy to a third party. The seller can get cash immediately for their policy, from the third party buyer.

If you choose to go through with a life settlement, you’ll need to seek assistance from a qualified life settlement agent. This life insurance specialist can assist you with the sale of your life insurance policy and ensure all paperwork and security measures are taken throughout the process. Life settlement agents know the laws and all methods required for this type of transaction to be successful.

Various life insurance policies can be sold for various amounts. The amounts are often determined by the policy size, premium amount and the current cash value, if any. You can contact a life insurance settlement agent to see if your current life insurance plan is eligible for a life settlement.

If you think you’d rather cash in on your life insurance policy now, you may want to consider a life settlement. Many people are eligible and successfully complete life settlements each year with the aid of a qualified life insurance agent or life settlement agent.