A period of time, dictated, where applicable, by state law, that the seller of a life insurance policy can reverse a life settlement transaction. In most regulated states, the rescission period for a life settlement is 15 days following the receipt of any proceeds paid by the life settlement provider. For a rescission to be effective, the settlement proceeds plus any premiums paid by the buyer must be returned to the Life Settlement Provider within the rescission period.

Sell Your Life Insurance policy