You can sell your life insurance policy for cash if you no longer need life insurance coverage. This process, also known as a life insurance buyout, typically results in a lower payout and comes with high overhead costs. Additionally, selling a life insurance policy for cash means your beneficiaries will get zero benefits when you pass away.
Exploring your life insurance settlement options and weighing the pros and cons of selling a life insurance policy for cash can clarify whether this is a beneficial move for you, depending on your financial situation and future needs.