What Steps Do You Need to Take to Sell Your Life Insurance Policy Safely?
Selling a life insurance policy can feel confusing, especially if it’s the first time. Some people think about a surrender life insurance policy when they need cash or can’t keep up with premiums. Knowing the right steps makes the process safer, faster, and helps you understand how much the policy could be worth. Start with a Free Evaluation The first step is a free evaluation or consultation. This helps figure out if the policy is eligible for a life settlement. It also gives a clear idea of the next steps before sharing private information like medical records. Check Eligibility and the Right Option Not every policy can be sold in the same way. It’s important to see if the policy fits a life settlement or viatical option (for terminal illness). Term policies may need to be converted to permanent coverage to be eligible. Knowing the right path upfront saves time and avoids wasted effort. Work with a Licensed Broker or Marketplace A licensed broker or regulated marketplace represents ...