“Wringing Cash From Life Insurance,” by Paula Span, New York Times

“If a life-settlement company likes its odds of turning a profit, it will buy the policy, paying out more than the policy’s cash value — the amount received if the policy were canceled — but less than the face value, or death benefit. The firm acquires the policy and continues paying the premiums. Then the company (or a big investor who buys bundles of policies) collects when the seller dies. It’s something like a reverse mortgage, but on your life instead of your house.”

LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):

Interesting, mostly positive, insights about life settlements.

Wringing Cash From Life Insurance

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