Life insurance settlements are fast becoming the norm for senior citizens over the age of 70. Even though it invokes a sense of compassion among the people who hear about a senior citizen forced to sell his or her life insurance to settle their debts or to use for their day to day financial needs. People at this ripe old age possibly cannot expect to earn any more money by working or running a business and if they already have certain debts to repay or cannot afford to pay the remaining installments of a life insurance policy opting for a life insurance settlement would be the best choice for them.

Senior life settlement is applicable only if the person is in their 70s and there are at least eight more years ofthe insurance tenure remaining. Various factors will go in to the determination of the actual price that the senior citizen receives in return for selling their life insurance policies. The age, health status etc are some of the factors that are taken in to consideration. The most important fact to consider is that the price of the life insurance policy that is received by selling it will never be more than the face value but it will be more than the cash value of the policy.

Many factors are involved in the life settlements investment because of the ambiguity regarding the time and prediction of the death of the individual who has sold the life insurance policy.

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