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Article snippet: “We’re going to go through a quick, ten- to 15-minute personal health assessment,” said Jay Jackson, vice president of Abacus Life Settlements in Orlando. “There are no right or wrong answers.” We were on the phone, doing an interview that would determine whether this company might offer to buy the life insurance policy — face value: $150,000 — that I’d bought decades ago. I actually had no interest in selling, to Abacus or to any other so-called life-settlement provider. But I wanted to see how the process would unfold if I did. So the questions began, with Mr. Jackson asking in a conversational way about my age, smoking history, marital status, ability to handle my daily activities. How old were my parents when they died? What type of exercise did I do? Any falls or dizziness in the last six months? It comes as a surprise to many older adults that the life insurance policies they’ve been paying premiums on for years might bring them money while they’re still alive. If a life-settlement company likes its odds of turning a profit, it will buy the policy, paying out more than the policy’s cash value — the amount received if the policy were canceled — but less than the face value, or death benefit. The firm acquires the policy and continues paying the premiums. Then the company (or a big investor who buys bundles of policies) collects when the seller dies. It’s something like a reverse mortgage, but on your life instead of your house. “There are so many seniors sit... Link to the full article to read more