If you are 65 or older and have an unwanted life insurance policy, you may qualify for a life settlement to get cash now to help pay for essential expenses, such as medical bills and mortgage payments. A life settlement may garner up to 30% of the face value of the policy as opposed to the traditional method of surrendering the policy with your insurance company. The practice of selling your unneeded life insurance policy is known as a "viatical".

Life Settlements allow you to assign or sell your life insurance policy for an up-front, possibly large cash payment. Life Settlements allow you to use money that would otherwise be inaccessible. You may spend your life settlement money as you see fit.

Example: Male age 68 with a $100,000 policy was told by his insurance company that if he surrendered the policy they would only give him $110. A life settlement secured $28,000 to add to his retirement. That made a huge difference.