When you do choose to sell your policy to a life settlement company, the purchaser will gather information about your life insurance and the insured’s current health status to determine the policy’s value. The offer to the policy owner may come in multiple forms including a cash amount or a retained benefit. Should you accept the purchaser’s offer, your file will move to the contracting, or closing phase where the ownership of the policy changes to the buyer and funds release from and an escrow account to the policy seller.