Looking for someone to buy my life insurance policy?

I am not 55 yet so I don't qualify for the Life Settlement plan yet, but I'd like for an individual who has ready cash for this kind of investment to loan me money with the life insurance policy as payment.

Is the policy paid in full, or will they have to keep paying the premium? Is the face value high enough, that they can get at least 15% APR on their money, if you live to 80? If not, it's a crappy investment for them.

See, bottom line is, life insurance is NOT an investment tool, and is NOT an asset - it's a financial planning tool.

Yep, the money you spent on that, you can't get back. Your best bet, is to see if it has a cash surrender value. It will probably be a fraction of what you've paid into it, but hey, it's better than nothing.

According to the CDC the average life expectancy for someone who is age 55 is another 26.2 years. I don't think you will find an "investor" who is willing to wait over 26 years to get a return on their investment.

What you are looking for is something call STOLI or better known as Stranger Owned Life Insurance... many insurance companies are watching for this because it tends to be a scam and not a very good idea for investments or for the person who currently owns the life insurance.... I would strongly suggest you don't head this route.

Look up Viators in your area.

If you're 55 and still healthy, I don't see you getting a net settlement for more than the surrender value. If you do decide to borrow money from the policy, do yourself a favor by ordering an "inforce illustration" at least annually and prior to making any changes.