If you’re selling an existing insurance policy on your life, via a “life settlement,” be careful. Any fee or commission should be paid by the buyer, not by the seller. What’s more, that fee should be based on the policy’s selling price rather than its face value, so there’s more incentive to negotiate a higher price.
You should be careful about whom you work with. Some policies are sold and later re-sold, so your medical records are shown all over the country. To avoid this, look into the background of anyone with whom you’ll be working, checking references to find someone who appears trustworthy. Even then, always ask to see bids on the stationery of the ultimate buyer, not an agent or broker, to make sure you’re seeing the actual bid.
The act of selling the policy can be tricky, too. A third-party might be brought in to hold the buyer’s funds in escrow; then the insurance policy can be placed in escrow and the sale can be concluded.