If you filed chapter 7 then you have a lawer. Call and ask him. I would think you should be able to.
Yes They can Sell the insurance Policies both of the Life and Non-Life.
Can you sell a 20 year term life insurance policy which has no cash value
No, because Term Life insurance policy has NO cash value.
Basically you can sell your life insurance policy to a life settlement company in exchange for a lump sum payment.
One can sell their life insurance policy and this is called Viatical Settlement. An insurance company sells insurance policy to a person. This person (viator) sells his policy to another person (viatical settlement provider). When the first person dies, the second person will benefit and cash in the money.
What do you mean "Sell" the life insurance policy? Once it is back in force and you are the owner, you can cash it in at any time if there is in fact a cash value. I guess you would have to better define what you mean by selling it.
Absolute assignment of a life insurance policy should be explained the the Assignment Clause of your life insurance contract. This is a feature in a life insurance policy allowing a policyowner to freely assign (give, or sell) a policy to another, or institution. The fact that life insurance is freely assignable makes it a useful financial instrument through which to secure a loan.
I would assume they are the assigned owners of the insurance policy, and have the greater interest in the product that was purchased, if the terms and conditions for repayment have not been met. So "YES" they would have the rights to sell the policy.
To sell variable life insurance policy polices, agent must recieved
Popular American companies that offer life insurance policies are MetLife, Allstate, and Geico. All three of these companies also offer auto insurance and homeowner's insurance.
Viatical settlements, or life settlements, are done when people have a terminal illness. In such a case, the person will sell their life insurance policy to obtain ready to use cash.
A graded life insurance policy is a kind of whole life policy. Unlike the typical kind of whole life, a graded policy starts out with lower premiums, which increase, usually yearly. Therefore, in the early years of this kind of policy, they premiums are lower than in a customary whole life policy. This kind of policy is sometimes called a "graduated premium" whole life policy. Many life insurance companies sell this kind of policy, but this is not a forum in which to recommend one. You should go to a licensed life and health insurance agent or broker who can assess your needs and assist in finding an appropriate insurer. Be sure that the insurer is authorized (licensed) to conduct business in your state.