Life insurance may pay at the beginning

The people who have learned it by their physicians that they do not have long to live can face financial problems and many others. They may not be able to earn a living, and yet want last major holiday, visiting friends and relatives in remote locations or modify their homes to make it more comfortable for the remaining months.
One of the ways to do so is to sell their life insurance policy, through what is called a discount. Under this agreement, a finance company buys an existing life insurance or a policy of staffing of a person terminally. This provides to the person who suffers from a terminal illness with a percentage of the cash surrender value which would be otherwise payable only on their death - so that they receive a benefit of life.
The first company to pay was formed in the United States in 1989 and the idea was introduced to the United Kingdom, three years later.
Here's how it works. A person who is terminally with a lower life expectancy of 36 months (in exceptional circumstances that this can be extended to 7 years, is where policy allows) can sell their policies of life in this way for between 20% and 87% of the total value (sum of base any bonuses). They receive this money as a lump sum for immediate cash.
The company to pay then became responsible for all other payments of premiums and received all the sums paid by the insurance company when the insured dies.
A new company, Platinum Plan, developed a variant of this approach. He made an initial payment of up to £ 20,000, depending on the sum insured, the rest being paid to the life insured the beneficiaries the death.
Sometimes this allows the person fill the ambitions of life that, otherwise, would have been impossible at the time, they are available after their diagnosis. Platinum plan maintains that this approach enables it to be more generous on the price offered, broaden acceptance criteria. Conversely obviously less money is available for the beneficiaries. Each applicant is treated individually and confidentially, with no absolute rule on life expectancy. No medical cases is required.
Anyone wishing to continue this line of conduct should consult an independent financial advisor before selling their policy.