What Is A Life Settlement? A life settlement is proof that a life insurance policy is a valuable personal asset. Those with high premium payments or other reasons for selling can do so if they are over 65 and meet the required life expectancy.A life settlement is a product for seniors (generally over the age of 70) who are seeking an economically sensible exit strategy from unwanted life insurance policies. A life...... Similar Editorial : Ideal Life Settlement by William Regal. | Source : Term Life Insurance No Physical