If you have a long term life insurance policy and is in sudden need of cash which may arise due to various reasons, you can sell that policy to some third party in exchange of a large amount of cash. These are known as life settlements or viatical settlements where the investor will pay a certain percentage of death benefit of the policy and that is quite higher than the cash value which is lying in the cash account of the policy. By doing this, the investor will become the owner of the policy and beneficiary.
If you are in debt trap and suddenly need cash, then you can approach a viatical settlement company and you can get such companies at your fingertips if you have a computer and Internet connection. If the policy is no more needed for the purpose for which it was done, then it is better to sell of that policy and get huge money in return. The money can be utilized to pay the large medical bills or any bigger loan which you have got and reduce your debt in the process.
Harvest is a good life settlement company which works much faster than the others and after submitting your insurance policy, very soon you will see the funds being transferred to your account.