If you’re reading this, you’re probably asking yourself, “Can I sell my life insurance policy for cash?” Let’s dive into why you might want to do this, along with the pros and cons. When you purchase ...

A life insurance policy is a contract between an individual and an insurance company, where the individual pays regular premiums in exchange for a death benefit to be paid out to their beneficiaries ...

Jessica Gibson is a content update editor and writer for Investopedia. She has over 10 years of experience in digital publishing and three years of experience covering financial topics like insurance, ...

Many people (and even some seasoned financial advisors) believe that you can simply gift your existing life insurance policy to your irrevocable life insurance trust (ILIT) without any implications.