SElling Life Insurancce Policies

mumibear36

Does anyone know if you can sell Whole of Life Insurance Policies. I have a couple worth a substantial amount when I die. They do have terminal illness but not critical. I have been diagnosed with cancer in breast & lymph nodes. If I could sell these policies I could perhaps pay off my mortgage & stop working. I know you can sell Endowments but can't find anything about normal Whole of Life.

*MF*

This is a link to what are known as "viatical" settlements - it describes them in very general terms, and you can google "viatical settlements" and find more links.

http://en.wikipedia.org/wiki/Viatical_settlement

But - and I stress this - do not proceed with anything along these lines without personal independent financial and/or legal advice.

Sorry to hear of your situation - I hope this helps answer your question - but please take the greatest care in this area.