Stress from financial pressures can often be an overlooked side effect of terminal cancers and other end-stage illnesses.

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The impact of financial toxicity can create a vicious cycle of problems.

While many resources exist to help families facing these challenges, consider that life insurance is personal property and terminally ill insureds can sell or borrow against these policies.

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FAQs

Can I sell my life insurance?

Yes. A strong secondary market for life insurance policies does exist. Large financial institutions purchase these policies as investments.

Can I lower my premium obligations?

Yes. There are several ways to accomplish this. Conduct a policy review to find out what options you have in your scenario. If you sell your policy, you will have no future premium obligations.

Who benefits when I lapse a policy?

When you lapse a policy, any value beyond the cash surrender value goes back to the life insurance carrier. You will no longer have options that may be more beneficial to you.

Life insurance is personal property. It is an incredible opportunity to pass wealth on to the next generation. Many people start by trying to keep this opportunity within the family. If that is not an option in your case, making a charitable gift of life insurance can be a fulfilling option.