Appeared on December 11, 2008
As a way to increase their income, at a time of national economic crisis, a number of older people are selling their insurance policies that they no longer need or want.That's according to Paul Aguirre, president, Equity of Life, LLC, in Plymouth Meeting and Skippack, a company that focuses on life settlements -- either the sale or assignment of a life-insurance policy to a financial institution for a lump sum cash payment -- for people 65 years old and older, who aren't terminally ill, and who have a life expectancy greater than two additional years.