Purchase a Life Settlement
If you want to spend a lot of money in a short amount time, buying a life settlement will help get you there fast. In this transaction you purchase the life insurance policy of another individual unrelated to you.
What is the benefit in doing this? Here’s how it works.
A policy owner uses a broker to sell their life insurance policy. You, the buyer, take ownership and agree to pay the policy’s premium. Then you, as the policy’s new owner, receive the death benefit following the death of the insured. Yes, it’s a bit morbid. But with face values of $250,000 or more, it’s a good way to cut down that billion.