Term life policy

Can I sell my term life policy for cash? - Quora

As a matter of fact, yes, you can sell your term life insurance policy for cash. The concept of doing this is called a “ viatical settlement ” (or “life settlement”). This involves selling your term policy for an amount that is lower than its death benefit but still higher than the cash surrender value. The purchaser takes over the premiums and collects the face value of the policy after you die. Before executing such a transaction, you’ll need to check your policy to see if it has the required provision that allows it to be sold (as not all term policies allow for this). Why would anyone do this? Most people that make the decision to sell their term life insurance policy for cash do so...

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Does term life Insurance expire?, Haven Life

Whether you’re in the researching phase of buying a policy or if you are coming to the end of your term length, you might find yourself wondering what happens when the term is up. By definition, term life insurance coverage lasts for a specific period, usually 10, 15, 20, or 30 years. Typically, young families have a policy to protect them during the years when savings are low, and children are financially dependent. During that time, you can enjoy the peace of mind that comes with knowing your family has financial protection regardless of your net worth. Once you’ve come to the end of your term length, you’re not out of options. Technically, most term life insurance policies don’t expire...

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