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Q. What is a life settlement?

A. A life settlement is the sale of a life insurance policy or certificate issued on the life of a person, who does not have a catastrophic or life threatening illness or condition that is likely to result in death within 24 months. Only the owner of the policy has the right to sell the policy. This may or may not be the person who is insured by the policy. A life settlement offers you the opportunity to receive a portion of your policy’s death benefit while you are still alive.

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