The positive side of the industry is that they buy old policies from people that either don’t need their life insurance anymore and were just planning on terminating the policy for nothing and people with terminal illnesses that need the cash for medical bills and living expenses before they die.

I can almost guarantee you that any reputable company will not be contacting you through email blasts and spam. Many of these companies will convince people to sell their policies for very low amounts or get them to enter agreements where they are forced to invest their settlement into crazy financial products with high commissions and fees.

There are also companies that try to convince people to purchase life insurance just for the purpose of reselling it. Most people that get involved in these deals end up paying crazy amounts of fees and suffering unexpected income tax consequences.