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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.