Read on for the most important life settlement and life insurance facts and statistics for 2021 — including how many people have life insurance, the average face value of life insurance policies, how life settlement proceeds compare to cash surrender values, and how quickly the life settlement industry is growing. 

Life insurance settlement options are notoriously confusing, particularly when you try to compare them. Evaluating a lump-sum payment relative to an annuity, for example, can feel like an “apples-to-oranges” comparison unless you are a trained statistician. Thankfully, you don’t need a knack for number-crunching to identify which settlement option best suits your situation. All you have to do is review this in-depth guide we created to help folks like you make an informed choice about life insurance settlement. 

If you are a life insurance agent, you’re likely to be an early point of contact for the senior who’s considering letting go of his or her life insurance policy. The logical questions you might receive are, “What are my options?” and “How much can I get if I surrender this coverage?” Those questions give you the opportunity to show that policyholder how to unlock a large sum of cash through a life settlement.