A Life Settlement process allows an individual to sell a life insurance policy for cash. The amount of cash received from the sale of a life insurance policy is determined by several factors including premium obligation and projected life expectancy.
Almost any life insurance policy can be sold. After the sale, the company buying the policy is responsible for making all future premium payments to keep the policy in force. The Life Settlement application process is simple and non-threatening and requires only completion of an application form.
Life Settlement Underwriting Process
The Life Settlement process is currently only available to: Insured age 65 and older with policies of $250,000 or more; and an Insured of any age who have been diagnosed with a life-threatening illness.
When applying for a Life Settlement there are no invasive interviews or lengthy questionnaires, just a simple form. With the applicant’s permission, our professional staff then gathers medical records for review by physicians and insurance underwriters. Each case is evaluated within days of the application’s completion; sometimes the same day!
Once the evaluation process is finalized the amount paid for an applicant’s policy is determined by several factors, including prevailing interest rates, premium obligations, and projected life expectancy.
All cash funds are transferred directly to our clients by wire transfer or overnight delivery.