the sale of an existing life insurance policy to a third party for more than its cash surrender value but less than its net death benefit; the sale one’s life insurance policy to investor who pay the premium until the seller dies
Life settlement providers must be licensed in the state where the policy owner resides.
[lahyf-sahyz] /ˈlaɪfˈsaɪz/ adjective 1. of the natural size of an object, person, etc., in life; of the actual size of a living original: a life-size statue. adjective 1. representing actual size adj. 1820, from life (n.) + size (n.).
plural noun 1. .
n. also life span, 1918, from life (n.) + span (n.1).
noun 1. the longest period over which the life of any organism or species may extend, according to the available biological knowledge concerning it. 2. the longevity of an individual. noun 1. the period of time during which a human being, animal, machine, etc, may be expected to live or function under normal conditions life […]