In 1911, the United States Supreme Court Grigsby and Russell decision deemed that life insurance policies are personal property. What does this mean for you if you own a life insurance policy? Well, it means that you can sell it to a third party for money. All you need to do to keep your policy is continue to pay premiums so death benefits are still received when you pass away. Selling your life insurance policy is not difficult.
There Are Many Reasons for Selling Your Life Insurance Policy
Why should you sell your life insurance policy? There are actually many reasons why selling your life insurance policy is beneficial to you. Perhaps you cannot afford the coverage, you think your premiums are way too high, or you just do not have a beneficiary that relies on you financially anymore. Those are all good reasons to sell a life insurance policy to a life insurance settlement company.
