Seniors who have life insurance policies they no longer need or want can sell those life insurance policies in a senior life settlement transaction and get cash immediately. The buyer pays all future premiums. The seller gets cash now which provides liquidity for living expenses, medical expenses, assisted living, in-home care and any other expenses.
There are no restrictions on the use of proceeds from cash received in the sale of a life policy.
The sale of a life insurance policy can bridge the gap between running out of cash for living expenses and have liquidity for life.
These sales are known as viaticals, life settlements, senior life settlements and senior settlements.
The process is simple and does not require any out of pocket costs to apply.