Life Settlement FAQ
Answers to your questions...
What is a Life Expectancy report?
Life expectancy companies provide third party medical evaluations called "life expectancy reports" that form the backbone of the senior life settlement, investment, and stop loss insurance areas of the industry. By having an accurate forecast of the individual who is insured's remaining lifespan, fair pricing for the purchase of a policy can be assured. Because these are third party evaluations, the reports are issued without prejudice to any of the groups involved.
Why would an insured sell his or her life insurance policy?
Most people who sell their life insurance policies want two things - upfront money and to release themselves from the policy payments. The underlying reasons to sell may be for debt reduction, to improve health care services, to fulfill goals and dreams not presently possible in their current financial state of affairs, or to liquidate their assets and distribute them as they see fit. Many affluent insured's participate in this program for many financial reasons.
Is it legal to sell your life insurance policies?
Yes. The sale of a life insurance policy is regulated by most states and requires the involvement of a licensed broker. A broker is legally obligated to find the highest possible selling price for the policy owner, similar to a real estate agent selling a home.
May I donate all or part of my policy?
Yes. Life Settlements offer you the option of donating all or part of your life insurance policy to a charity or religious organization of your choice. Favorable tax implications may apply.
Who pays the future insurance premiums?
You will never have to pay another life insurance premium. Once you have sold your policy and received your funds, you will no longer be responsible for premium payments. The buyer assumes the payment.
What is involved in the process?
It is very easy. Simply fill out the application provided for you. We'll review the insurance policy and the medical records provided by the insured's doctor. If your application qualifies, an offer will be prepared for you. No additional medical examinations for the insured are required. The process is very, very simple.
For more information contact our free help line at 1-888-823-7764.