When a person is young and has dependents, life insurance is almost essential. It gives them the peace of mind of knowing that their family will be okay financially if anything happens to them. But after they pass the age of seventy, if they are still healthy, they may not need the insurance anymore. Because of this, many people decide to get a Life Insurance Settlement. They sell their policy, often for a large sum of money, to another person. The buyer then gets the money if the person dies. The policy holder can use the money that they get from the sale for anything that they want.