Sell Your Life Insurance
The definition of a life settlement is: the disposal of a person’s policy to an interested person for an upfront cash payment. The life assurance owner is paid a payout that is well above the policy’s cash value, but still less than the survivor benefit. Once the coverage plan is relinquished, the investor becomes the rightful beneficiary on the plan and assumes all obligations for future repayments. The person selling their policy gets paid for the policy, while the buying party receives the death benefit once the insured passes.
In the state of WI., life settlement policy are governed under the auspices of the Wisconsin Office of the Commissioner of Insurance, and you ought to check the official site to be absolutely certain you are dealing with an authorized firm. Q Capital is a licensed life settlement provider in Wisconsin.
Once a policyholder decides that they are looking to give up their existing policy, a life settlement may be an option to ending the life insurance policy and relinquishing it back to the insurance company. Oftentimes, the value of the insurance policy is greater than the total amount that would be received if it were simply lapsed back to the company. Deciding to work with a properly licensed company, the policyholder makes the policy available to a interested market where investors are able to bid on policies offered up for auction. At which point the licensed life settlement provider can watch over the entire process, from soliciting bids from various investors, to collaborating and working with the policy owner to finish the policy-sale closing procedure. Finally, all sales are closed with an escrow agent, as an additional level of protection for the insurance policy seller. Many times, the sale of a policy can be wrapped up within 30 to 60 days starting from the initial request.
Life settlement deals are perplexing and necessitate detailed knowledge and experience to assess all the options.
You can start now with a no obligation policy appraisement through our premier industry partner!
Once the policy has been received with all of the required information, the life settlement process continues as follows:
Q Capital Strategies’ partners are the absolute top in the life settlement industry. Here are a number of illustrations of what we have delivered.
71 year-old woman insured with a $3,000,000 plan. The insurance policy had zero cash value in the policy and the woman’s next payment was going to be $89,580. Her life insurance plan was procured for $435,000.
76 year-old client having a $1,002,592 policy. With only $2,592 cash value in the plan, the monthly burdensome expense was going to prompt the life insurance plan to lapse. We were able to recruit a purchase who remunerated the trust $116,000 for the life insurance policy.
A 76 year old male insured on a $700,000 plan. The owner of the policy was making ready to let the policy lapse because it was no longer needed. The man’s financial advisor recommended that he seek out a life settlement assessment and his life insurance policy was bought for $140,000.
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Tell us a little about your situation and we’ll help you assess whether a life settlement is right for you.
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