Originally Posted by LottieGarza
Yes, you are right. Life insurance money is not a cash money in hand. No one can use this money until your death. I had seen some situations when none of the beneficiary know about the policy and never claim for this. This type of money called as missing money or unclaimed money. So, life settlement plans are good for life security.
I fail to see how giving someone else rights to an insurance policy on one's life provides "life security".
In regard to the "claim" point, a more responsible consumer oriented approach might be to work to get consumers to check the "treasure hunt" links on their state treasurer's website.
Getting the family members to do anything about the money is another issue, but I have found business insurance payments and personal investment income for some of my family members on my state's website.