LIFE INSURANCE SETTLEMENTS MADE SIMPLE

Before The Appraisal

Why sell your Life Insurance policy?
The sale of a life insurance policy is a personal decision. The reasons for selling will vary greatly from one person to another. The one common desire that all of our clients share is that they want to enjoy the financial benefits from their life insurance policy now. Unfortunately, life insurance in its current form does not allow the policyholder this option.
 

Based on our experience representing the insured individual we have compiled the following list of most common reasons to sell.

• Personal Reasons:
  • See the money enjoyed by relatives
  • Take a long awaited vacation
  • Purchase a luxury item that was never affordable
  • Family reunion
  • Prepaid college fund
  • Go back to school
  • Fund alternative healthcare that insurance will not cover
  • Upon leaving an employer - sell old group policy 
  • Donate to a favorite charity 
• Financial Reasons:
  • Pay off debt
  • Pay off a house
  • Investments in other financial vehicles
  • Policy premium no longer affordable
  • Start a business
  • Fund better healthcare

Am I currently getting the maximum value from my life insurance policy? Regrettably, life insurance is often an underutilized resource. Statistics show that 90% of all life insurance policies lapse or are surrendered because of non-payment, due mainly to rising costs. Policies that do manage to stay in force are often under-performers or no longer needed. Especially problematic are universal life policies written since the 1980s. These policies often fail to meet expectations because of the rate of interest at which they were written. In some cases, the premiums did not “disappear” as had been projected; leaving seniors with unplanned expenses. For these and other reasons, many people are losing out on their policy’s accumulated value—don’t be one of them.

Why choose Life Insurance For Life?
Our existing clients choose us because of our commitment to strong ethical standards, our high client service, and our ability to secure the very highest offers. Our services are free and without obligation. Remember, the only way to understand the true value of your life insurance is to have it appraised.
 

What do I need to get started?
The process is simple and non-intrusive, and no medical exam is ever required. One straightforward request form begins the process.

May I donate my policy?
Yes, Life Settlements can be donated to charities. Ask us how this works and we can provide with the information you request.

Can I work with you through my advisor?
Yes. We can work with your trusted financial advisor, personal attorney, insurance agent, or even a family member if you choose.  If you'd like to contact us prior, we can aid you in how to present your case to your advisor so that he/she may assist you more efficiently regarding a potential life settlement.  Most advisors do not offer this service, and unfortunately of those who do, the vast majority will only present your policy to one or two investors. This is simply not in your best interest, since many advisors do not yet know that a multi-broker like Life Insurance For Life even exists in the market (now you do!).

The Appraisal Process

How long does the appraisal process take?
On average, it takes approximately 4-8 weeks to have an appraisal conducted. The most time consuming phase of the process is obtaining information from your doctors and insurance company.

How do you get the highest offer for me?
We have relationships with over 20 different investment groups, both within and outside of the USA.  Since we are a broker, we can take your file to the entire marketplace, and create a competition for your policy. This increases the offer you will receive, and eliminates the need for you to submit multiple applications to reach the entire marketplace.
 

How is my policy valued?
There are many factors that determine the offer amounts:

• Age of insured
• Premiums
• Insured’s Health
• Type of Policy
• Policy Size
• The general rule is that age, health, and future premiums are the primary factors that determine the amount of the Life Settlement offer.

Are there any costs to the appraisal process?
At Life Insurance For Life, we conduct policy appraisals without cost or obligation.

Is a medical exam required?
No, a medical exam is not required. We will be requesting medical records from your doctor, and that will be sufficient to conduct the appraisal.

Can I put more then one policy on the same appraisal request?
Yes. If you need additional space for anything, simply use a separate additional sheet of paper.

Should I call my doctor, and let him know that you will request medical information?
While this is not necessary, it can only help to expedite the process. The faster we have that information, the faster we can conduct the appraisal.

Can I fax you the appraisal request form?
Yes. The form can be faxed to 920.482.5627. Originals are not necessary at the time of request.

What if I don’t want the offer?
Then, simply do not accept it. There is absolutely no obligation on your part to accept any offer. The appraisal value we determine for you is still good information to help you understand your financial picture.


 

If You Accept An Offer

How does a settlement get paid?
There are many options on how to receive your lump sum cash settlement. Please ask for details.

Are their restrictions on the use of the cash settlement?
Absolutely not. The cash settlement can be used for whatever purpose you desire. Most often, our clients use the settlement to cover medical, living, or other expenses.

Who pays the premiums after the sale?
The investment firm that purchases your policy will be responsible for the premium payments after the sale.

Is the cash settlement taxable?
Tax obligations will vary with the sale of an insurance policy. Life Insurance For Life does not make any representations as to the tax treatment of a sale of a life insurance policy. We strongly encourages you to consult with your tax advisor, attorney or financial planner as it relates to your specific situation.

The facts tell the story.  Please do not allow your policy to lapse.  Please do not accept a cash surrender.  Neither of these options are in your best interest.  Always perform a market analysis of your policy before taking any further steps.  Click here to begin.