How It Works

Life Settlement Flow – 5 Step

Step One
Step 1
  • Policy Owner Completes Online Questionnaire
  • Broker Receives Policy Owner Information
Privacy Secured Privacy Secured
helper with an open laptop

A Little More Guidance –

Step 1 – The Online Questionnaire provides “Key” Points of Interest about Your Life Insurance Policy for the Broker/Producer/Buyer.

Criteria for Life Insurance Policy Sale Consideration:
  • $100,000 Life Insurance Policy – Minimum Face Value
  • Age and Health of the Policy Owner for this site
    • 85 years of age or older – Good Health or Ill-Health
    • 70 years of age or older with a Documented Terminally* or Chronic Illness*
  • Your Policy Type – Term (Convertible), Whole Life (WL), Universal Life (UL), “Key” Man, Variable Universal Life (VUL), Survivorship Whole Life (SWL), Survivorship Universal Life (SUL)
Please review the Benefits – Independence paragraph for Your Life Insurance Policy Ownership waiting period. After the Life Insurance Policy Ownership waiting period, in most cases, you become eligible to Settle Your Life Insurance Policy. In addition, the online questionnaire asks for:
  • Your Policy Face Value Amount
  • Your Policy Payments – Are The Policy Payments Current or Behind
  • Any Liens on Your Policy
 
Contact us with any questions or concerns.
Helper aiding policy owner with a life settlement
Step Two
Step 2
    • Broker meets the Policy Owner
 
    • Broker gathers the appropriate Life Settlement information from the Policy Owner
 
  • Broker maintains Fiduciary duty to the Policy Owner

A Little More Guidance –

Step 2 – Meeting with the Broker

Topics of Discussion May Include:
  • Details of Your Life Insurance Policy
  • Health Records for the past 5-10 years
  • Medical Records for the past 5-10 years
  • Life Expectancy Report – Based on Your previous ‘Topics of Discussion’ information, this report is created by a Third Party to assist the Buyers of the Life Insurance Policies in their Policy-buying decisions. The Broker typically purchases this report for submission to the Buyers of the Life Insurance Policies.
  • Financial Award and Impact – Taxes
  • Replacement Insurance protection
Step Three
Step 3
    • Broker “shops” the Life Settlement package to the Life Settlement Buyers
 
    • Broker receives “Offers” from the Life Settlement Buyers
 
  • Broker maintains Fiduciary duty to the Policy Owner
fudiciary broker shops owners life policy to buyers

A Little More Guidance –

Step 3 – Broker Shops Your Policy; Broker Receives Offers for Your Policy

Buyers’ Consideration of Your Life Policy Purchase is based on several factors (though not inclusive):
  • Details of Your Life Insurance Policy
  • Health Records for the past 5-10 years
  • Medical Records for the past 5-10 years
  • Life Expectancy Report – As noted in Step 2 – Topics of Discussion
  • Buyers’ Cost to Continue the Life Insurance Policy; The Cost to Keep the Policy In-Force until the realized death benefit. (Awareness – As a Condition for the Sale of the Life Insurance Policy (Life Settlement), the Buyer becomes the Owner and Beneficiary of the Life Insurance Policy.)
Step Four
Step 4
    • Broker presents the Life Settlement “Offers” to the Policy Owner
 
  • Policy Owner chooses the Best Offer

A Little More Guidance –

Step 4 – Broker Presents Offers; Policy Owner chooses the Best Offer

Awareness:
  • Upon Acceptance of the Best Offer – The Buyer and Policy Owner (Seller) update the ownership and beneficiary designation of the Life Insurance Policy to have the Buyer as the Owner and designated Beneficiary of the Life Insurance Policy.
Step Five
Step 5

Life Settlement for the Policy Owner

policy owner with life settlement
policy owner counting monies after settlement