Understanding your options as you consider how to sell your life insurance policy can be confusing. However, the most important first steps you can take in working through a life insurance policy settlement are qualifying and valuing your policy before you do anything. “Qualifying” is a matter of determining if your health, age and policy are likely to make you eligible for a life settlement. “Valuing” is the process of determining how much your policy is worth in the marketplace and, therefore, how much cash you can expect from the life settlement process.