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Q. What if I die shortly after selling my policy?
A. If you die at any time up to the 15th day after you receive the money from the
purchaser, the settlement contract will automatically cancel. The purchaser
will pay the owner of your policy or beneficiaries designated by the owner
in the life settlement contract any proceeds it receives from your policy,
minus any money it already paid for the purchase of your policy and any premiums
it paid to the insurance company to keep your policy current. The insurance
company or the provider should refund any unearned premiums paid.
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I’m over 65 and I no longer need or want my life
insurance policy. The policy’s death value is $250,000 or greater, and I would like to
see how much is it worth to me as a senior settlement,