The first step is completing our simple online form to see if you qualify for a life settlement. If you meet the initial qualifications, we send the information you’ve provided to multiple life settlement companies. We put you in touch with multiple potential buyers, in one free, fast, and hassle-free step.
Once you’ve chosen a life settlement company to work with, you will be asked to complete an initial application from them. This application includes basic contact, health, and policy information. After the company receives this completed application, they will request policy and medical information on your behalf for verification purposes.
Once the company has all of the medical and policy information that they need, they order a life expectancy report. A life expectancy report plays an important role in the life settlement offer you receive as this report projects the lifetime amount of premium payments the new policy owner will have to pay. Therefore, this is a necessary step in the process. After the life expectancy report is reviewed, the company will present you with an offer based various factors including your age, health status, and policy premiums. It’s important to keep in mind that receiving an offer for your policy is absolutely no obligation to you. You have the right to accept or decline any offer you receive.
If you accept an offer, the company will send you a life settlement contract to review and sign. Once received, the company will then make arrangements with your life insurance carrier to inform them of the transfer of policy ownership. The life insurance carrier will then change the beneficiary of the policy to the new policy owner. Once the change of beneficiary has been confirmed, the life settlement company will immediately provide you the agreed upon lump sum payment.