Most individuals are unfamiliar with Life Settlements. As a result, many have turned to Settlement Options to provide necessary education on this powerful financial tool.
Life Settlements are a financial instrument that converts the value of a life insurance policy into immediate liquidity. In order to facilitate these transactions life insurance settlement Providers (the buyer) are connected with life insurance policy owners (the seller). The Provider purchases the policy from the owner, takes over premium payments, and becomes the beneficiary of the policy. At that point the seller is released from the financial burden of further insurance premiums and is free to utilize the capital raised to meet immediate needs.
YEARS EXPERIENCE
IN LIFE SETTLEMENT
TRANSACTIONS
ACTIVE STATES
Do you really need your policy?
To answer this question, you have to determine whether the reason you bought the policy in the first place meets your current financial and estate planning needs. If not, it would be prudent to determine if the policy has more current value in the life settlement market, than the cash surrender value.
Take the most important step, contact us and get to know our team. We will take as much time as needed to learn about your individual circumstances and goals. We can then focus on education, explaining the Life Settlement process, determine if you qualify, and discuss the amount you can expect to receive for your policy. Click here to contact us.
After you qualify, Settlement Options then works with a diverse investor base to secure your policy valuation. We maintain strong relationships with a network of experienced life settlement investors who fund insurance policies through Settlement Options. We work aggressively to secure a fair market value of your life insurance policy.
Once we have an offer, we will present it to you. If the offer works with your financial and estate planing goals and liquidity needs you can accept the offer. If not, we will discuss next steps.
Once you have accepted the offer the next step is transferring the policy. We help you complete documents to facilitate the policy transfer. This step can take from one to two weeks to complete.
The funds from the sale of the life insurance policy are put in escrow and forms are submitted to your insurance carrier to assume policy ownership.
Finally, your documents are verified and you receive payment. At this point you are funded and can benefit from the liquidity provided via the Life Settlement process.
The entire process usually can be completed in several weeks. If you have any questions or concerns along the way, we’ll be more than happy to get the answers you need.
Contact us today to find out more about how Life Settlements can help you.
