If you're not terminally ill, you can sell your life insurance to a life insurance settlement company. There are two ways you can sell your life insurance policy: (1) a viatical settlement; or (2) a life insurance settlement. If you don't have a terminal diagnosis and you want to sell your life insurance policy, you can use a life insurance settlement. Siegel said people who have term life policies with conversion riders and universal life insurance policies typically apply for a life insurance settlement. He said that every secondary life insurance policy has to go through a licensed provider, which acts like a title company for the sale of the life insurance policy.

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Persons: —, Lucas Siegel, there's, Siegel, Mark Williams, viaticals, Williams, it's, you've, Ronda Lee Organizations: Insurance, Service, Brokers International