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Life settlement companies are mainly interested in buying high-value policies from older policyholders. You'll probably need to have at least a $100,000 life insurance policy and be over the age of 65 to sell your policy.
Please note these dates are the dates checks are mailed. You should allow a minimum of 5-10 business days for mail delivery.
New York Life | Chase Bank.
Call (800) CALL-NYL and say the word ?Claims? at any time. Our service team is available am to pm ET, Monday through Friday.
Sell it to a third party You will no longer have coverage. The amount you receive for selling your life insurance to a third party over simply surrendering it will vary depending on many factors. You may also be subject to large commissions and fees that reduce the amount you will receive.
However, ing to the Life Insurance Settlement Association. That means if your policy has a $100,000 benefit, you might receive $20,000 from selling it. Life settlement companies base their offers on many of the same factors life insurance companies use to determine your premiums.
New York Life Insurance Company Headquarters at the New York Life BuildingTotal assetsUS$392.13 billion (2022)Total equityUS$23.88 billion (2022)Number of employees15,050 (2022)SubsidiariesNew York Life Investments11 more rows
Each state has their own waiting period which varies between 2-5 years before you can sell it. If you meet the above qualifications, you likely qualify for a life settlement.