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Life Settlement
Educational Information
Welcome Funds has compiled every term, phrase & definition related to life settlements. Have more questions? Call us toll-free at 1-877-227-4484 or complete our Quick Online Qualifier to determine your eligibility.

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DEFINITION OF RESCISSION PERIOD - NEWLY ISSUED LIFE INSURANCE

A period of time, dictated, where applicable, by state law, that the policy owner of a life insurance policy can reverse a life insurance purchase transaction (with the issuing life insurance carrier). Check with your state department of insurance or your life insurance policy to determine the exact amount of rescission time as well as any procedures required to rescind the contract.

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