Sell Your Life Insurance

Why surrender your insurance when you can gain the financial benefits of a life settlement in Alabama?

What in the world is a life settlement? Life settlements in a nutshell.

A simple definition of a life settlement is: the disposal of your insurance policy to an interested person in exchange for a one-time purchase fee. The coverage owner is paid a payout that is above the cash value, yet less than the policy indemnity. After the insurance coverage is sold, the purchaser is the new rightful beneficiary on the plan and also assumes the obligations for future costs. The person selling their policy gets paid for the policy, while the purchasing party gets the death benefit once the insured person eventually passes.

In the state of AL., life settlements are regulated under the auspices of the Alabama Department of Insurance, and we believe it’s best to check the website to assure that you deal with a properly licensed company. No license is required as a life settlement provider in the great state of Alabama.

A quick take on how it works.

After the policy owner takes the decision that it doesn’t make financial sense to own the asset, a life settlement offers a good alternative to discontinuing the standing life insurance policy and relinquishing it back to the insuring company. In many cases, the insurance policy value is greater than the amount to be received if it were lapsed. By working with a certified firm, the owner can take the policy to a bustling market where institutional investors may bid on life insurance policies. At which point the sanctioned life settlement provider can oversee the whole process, from soliciting offers from potential investors, to collaborating and working with the owner of the policy to complete the policy-sale closing procedure. And finally, all insurance policy sales are closed with an escrow agent, as an additional level of safety for the life insurance policy seller. More often than not, the sales transaction procedure can be finished in 30 to 60 days starting from initial request.

Let Us Help You Achieve Your Goals

Life settlement deals are involved and often require detailed knowledge and expertise to help you find the right fit.

Don’t wait to start with a absolutely No Obligation plan appraisement from our principal partner!

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Requirements for the Life Settlement Process

  • Alabama Life Settlement Application – personal, life insurance, medical, and policy info.
  • HIPAA Authorization
  • Life Insurance Policy Information Release
  • Medical Records/APS – The insured(s) complete medical records fromt he past five (5) years.
  • In-Force Illustration – obtained from the issuing insurance company

Once the policy has been received with all of the required information, the life settlement process continues as follows:

  • Policy Verification
  • Purchase Procedure
  • Closing

Case Studies

Q Capital’s partners are at the zenith in the life settlement industry. Here are a few illustrations of what we have delivered.

  • 71 year old female with a $3,000,000 life insurance policy. The plan had no cash value in the policy and our client’s next premium payment was $89,580. Her life insurance plan was purchased for $435,000.

  • 76 year old male having a $1,002,592 policy. With only $2,592 value remaining in the life insurance plan, the monthly financial outlay was going to prompt the life insurance policy to lapse. We were able to recruit a buyer who remunerated the trust $116,000 for the life insurance policy.

  • 76 year old client with a $700,000 life insurance policy. The owner of the plan was making plans to let the life insurance policy lapse because it had become unnecessary. The man’s adviser suggested that the man should search for a life settlement evaluation and his policy was acquired for $140,000.

Other Alabama Resources and Information

Here are links to other sites that have legal, financial or other information relevant to the state of Alabama:

Alabama Securities Commission Statement (PDF)
Life Settlements Forum
About Alabama

Forbes
LISA
Think Advisor
Business Wire

Helping people meet life’s challenges head-on.

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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