A type of financial transaction where a life insurance policy owner chooses to sell of a policy that they no longer need. They sell the policy to a third party for a price that exceeds its cash value but is lower than the face value of the policy overall.

Previous Terms: 1031 Exchange, 1035 Exchange, AARP, Abeyance, Abstraction Principle, Accelerated Amortization, Acceptance Credit, Acceptance of a Bill of Exchange, Accommodation Bill, Accommodation Endorser