Is It Legal to Sell My Life Insurance Policy?

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Is It Legal to Sell My Life Insurance Policy?

Posted On : Dec-29-2010 | seen (532) times | Article Word Count : 364 |

Before you wonder if you’re breaking any laws by deciding to sell my life insurance policy, you can be rest assured that this practice is completely legitimate and legal.

Before you wonder if you’re breaking any laws by deciding to sell my life insurance policy, you can be rest assured that this practice is completely legitimate and legal. However, this does not mean that the parties you deal with during the process will be on the up and up. In order to make sure that you sell my life insurance policy according to the law, rules and regulations set, it is vital that you know who you are dealing with.In order to make sure that you sell my life insurance policy according to the law, rules and regulations set, it is vital that you know who you are dealing with.

Because you are selling your life insurance policy, this means being involved with third parties. In this particular instance, the third parties you’ll be dealing with will more than likely involve the investor that wants to purchase your policy and the broker, who plays the middleman in making sure the process goes smoothly and everyone gets what they want. In most cases, it is the broker that should be thoroughly checked out, although you’ll want to also make sure you know who the investor is.

Brokers operate either on their own or through a company, which are typically life settlement businesses, which specialize in handling the sale and purchase of life insurance policies. The broker works with you to find interested investors and helps you with choosing the right one that will pay the most lump sum cash amount. Additionally, the broker will facilitate all correspondence and make sure that the purchase of the policy is done correctly and that you receive your money in a timely manner. Of course they provide this service for a fee.

It is essential that the broker you decide to go through has a track record of proven experience and a list of previous clients that highly recommend their services. Because the rules and regulations that apply to selling life insurance policies vary from state to state, it is also important that the broker you hire abides by those laws and does not cut corners or handle the process in a shady way.

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<h1>Is It Legal to Sell My Life Insurance Policy?</h1> Author: <a href='http://www.articleseen.com/profile_John Stevens.aspx'>John Stevens</a> Before you wonder if you’re breaking any laws by deciding to sell my life insurance policy, you can be rest assured that this practice is completely legitimate and legal. However, this does not mean that the parties you deal with during the process will be on the up and up. In order to make sure that you sell my life insurance policy according to the law, rules and regulations set, it is vital that you know who you are dealing with.In order to make sure that you sell my life insurance policy according to the law, rules and regulations set, it is vital that you know who you are dealing with.

Because you are selling your life insurance policy, this means being involved with third parties. In this particular instance, the third parties you’ll be dealing with will more than likely involve the investor that wants to purchase your policy and the broker, who plays the middleman in making sure the process goes smoothly and everyone gets what they want. In most cases, it is the broker that should be thoroughly checked out, although you’ll want to also make sure you know who the investor is.

Brokers operate either on their own or through a company, which are typically life settlement businesses, which specialize in handling the sale and purchase of life insurance policies. The broker works with you to find interested investors and helps you with choosing the right one that will pay the most lump sum cash amount. Additionally, the broker will facilitate all correspondence and make sure that the purchase of the policy is done correctly and that you receive your money in a timely manner. Of course they provide this service for a fee.

It is essential that the broker you decide to go through has a track record of proven experience and a list of previous clients that highly recommend their services. Because the rules and regulations that apply to selling life insurance policies vary from state to state, it is also important that the broker you hire abides by those laws and does not cut corners or handle the process in a shady way.
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The article about the topic sell my life insurance policy is written by author John Stevens

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Category : Business : Business

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