Secondary Market

A place you can sell life insurance policies you no longer need for a percentage of their face value. A secondary market usually involves an insurance settlement company, which purchases your unneeded policy from you for an agreed-upon price. The investor then continues paying the premiums and collects the death benefit when you die.

Demand in the secondary life insurance market far exceeds the supply of available life insurance policies. The return on investment is far greater than with most other investments, so investors scramble to find older Americans willing to sell their policies in the secondary market so they can make money.

In the end, it’s usually wiser to keep your life insurance policy and pass it on as an inheritance to your family than to sell it.


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