I am a widowed, retired federal employee, and not in very good health. I have for years had a life policy for about $286,000 through the Office of Personnel Management (OPM) carried by MetLife. I only have one beneficiary which is my only child (25 years of age). There is no cash value before my death. This not a term policy.
Question: Is there a way to assign a portion of this policy for cash? If so, what could I expect to be offered for an assignment of $50,000? Just an example to get an idea how this might work.