Life Settlements
Selling your Life Insurance Policy
When you are looking to sell your policy in the life settlements market, there are many details that you need to consider. Selling your policy is called ‘viatication’ and there are two ways to sell your policy.
One way to sell your policy is to sell it to a viatical investment company. These companies help you to find investors that are looking to buy life insurance policies from others. When the seller dies, the company receives all of the benefits and pays the investor. The other way to sell your policy is to do business through a broker. A broker basically seeks out different viatical companies to have them review an application that you will fill out. A good broker deals with lots of companies and should have your application reviewed by 3 or more companies. The broker will help you to find the best deal for your life insurance policy.
Most companies have certain requirements that you must meet in order for them to try and sell your policy. Each company also sets its own requirements for how much a policy will pay. Some companies might require you to have owned the policy for at least 2 years, have employer’s permission if you got the policy while you were an employee, and have a terminal disease or illness. Not all of the companies you will find have these same requirements. Depending on the requirements and restrictions of the company will determine how much money you receive for your policy. Remember, when selling your policy, you do not have to sell the whole thing. You can choose to sell a small percent, a big percent, or even the whole thing if you choose to.
For more information or have Life Settlements help you with selling your policy, give them a call at 800-113-0088.
A Life Settlement may provide you or your client with the best financial solution possible. Please Chat with one of our live Consultants or Fill out this form and a trained specialist will contact you to answer all your questions, and provide you or your client the safety and security that only an Institutional Funder can assure.
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