The next thing you need to do if you want to sell your life insurance policy is to choose a buyer. It can be a time-consuming process to find a life settlement company on your own but this should not discourage you. Sell My Life Insurance Policy acts as an intermediary between people interested in selling their policies and companies wishing to purchase them. We share your provided information with several potential buyers upon completion of our three-step online form. If interested in purchasing your policy, these companies will contact you to get more information about you and your policy.
After verification of your information, the life settlement company may present you with an offer for your policy. If you accept an offer, the next step is to review and sign the documents and make the company the new owner and beneficiary of your life insurance policy.
Once the policy is transferred, the lump-sum payment is given to you from the buyer in your chosen form of payment. Depending on the company you work with, you can receive the funds from your life settlement in as little as 1-2 weeks. Then, you can use these funds for your retirement, a vacation, to pay for medical costs, or any other reason you see fit. Meanwhile, the company who purchased your policy will continue to make premium payments through the lifetime of the policy.