If you die at any time up to the 15th day after you receive the money from the provider, the settlement contract will automatically cancel (up to 30 days in some states) .
The provider will pay the owner of your policy or beneficiaries designated by the owner in the life settlement contract any proceeds it receives from your policy, minus any money it already paid for the purchase of your policy and any premiums it paid to the insurance company to keep your policy current. The insurance company or the provider should refund any unearned premiums paid.
Life Settlement FAQ – What if I Change My Mind?
Life Settlement FAQ – When Will I Get My Money And From Whom? And What Happens After?
Life Settlement FAQ – Is My Information Private & Confidential?
Life Settlement FAQ – Broker or Provider Representative?
Life Settlement FAQ – Do I have to sell all of my policy?
Life Settlement FAQ – How do life settlements work?