The value of a Life Insurance policy is determined by a number of factors, including, but not limited to, the age and medical condition of the insured, type of insurance policy, rating of the issuing insurance company and amount of premium payments to keep the Life Insurance policy in force.
No, there are no restrictions on use of the funds - the money is yours to spend as you like.
- The policy is no longer needed or wanted
- To pay for healthcare costs
- Premium payments have become unaffordable
- Considering lapsing or surrendering a policy
- Change in estate planning needs
All rights and obligations of the policy are transferred to the new owner. You will no longer be responsible for making premium payments on the policy, the new owner will. The new owner will name a new beneficiary of the policy who will collect the proceeds upon the insured's passing.
The only required step would be to get professional help in selling your insurance policy. A Life Settlement Broker will handle the process from start to finish, which includes the following steps:
- Reviewing your Life Insurance policy
- Evaluating the market
- Shopping the policy to Life Settlement providers
- Completing the Sell of Your Policy

"IMS Settlements was transparent, fast, and delivered
an unbelievable offer for my universal life policy."
- Bruce H.
IMS Satisfaction Guarantee
