FREQUENTLY ASKED QUESTIONS

A Life Settlement sometimes also called a senior settlement, is the sale of a life insurance policy. A policy can be sold for any reason, but typically because the policy is unaffordable, unneeded or unwanted by the policy owner, because the intent of the policy has changed.

The transaction involves selling an existing life insurance policy to a third party—a person or entity other than the company that issued the policy. The policy holder (seller) receives an immediate payment from the third-party offering the settlement.

If your policy qualifies, your life settlement could be used to plan for & fund your retirement, cover health, dental and long-term care expenses or simply offer the financial freedom you deserve. 

Yes. Grigsby v. Russel, 22 U.S 149, established life insurance policies as private property, opening up the possibility for policies to be bought, sold, and traded, just like any other high-value asset, and laying the early groundwork for life settlement options. Life Settlements are regulated under the jurisdiction of the Department of Insurance in most states.

Many seniors are paying premiums on life insurance policies they no longer need or want while expenses associated with retirement, continue to increase. If your premiums are too expensive to maintain, you may want to consider a life settlement to convert your policy to cash.

The most time-consuming part of the process is obtaining one’s medical records. Overall, the process will generally take less than 6-8 weeks. 

By opting for a life settlement instead of surrendering or lapsing your policy. When we broker the sale of your policy, the goal is to secure a cash payout that exceeds the total amount of premiums you’ve paid over the years. That "extra" amount is your premium-interest*