A life settlement is a transaction in which an insurance policy owner sells a life insurance policy to a third party for an amount that exceeds the policy's cash surrender value, but is less than the expected death benefit of the policy. Reports indicate that the life settlements market had experienced robust growth up until 2007 when it was estimated that $12 billion in face amount, or stated benefit, amount, of life insurance was sold in life settlement transactions. More recently, the amount sold has declined. This book outlines the Life Settlements Task Force's findings about the life settlement market and recommends that the Commission consider certain actions to improve market practices and regulatory oversight.