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What is a Life Settlement?
A Life Settlement is the sale of an existing life insurance policy to
a third party for more than its cash surrender value but less than
its net death benefit. The purchaser assumes responsibility for
payment of the premiums and becomes the policy's beneficiary.
Life settlements are a complex financial transaction and are
generally conducted on behalf of clients by experienced
professional advisors. When representing a client, financial
professionals have a fiduciary duty to represent the best interests
of that client.