A life settlement is defined as the sale of an existing life insurance policy for more than its cash surrender value, but less than its net death benefit. Once the sale is complete, ownership of the policy is transferred to a third-party intermediary who is responsible for all future premium payments and will collect the death benefit when the policy matures. If your client qualifies, a life or viatical settlement can be a source of much-needed funds for everything ranging from financing post-retirement living expenses to paying for medical bills when suffering from a serious illness.

The life settlement space has been quietly growing in independent distribution over the last few years, and if you have not taken a look recently, now is the time! Understanding how this market has matured and how simple it can be to make it part of your marketing strategy.