Sell Your Life Insurance

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

Simple Life Settlement Definition

A life settlement is: the disposal of a prevailing life insurance plan to an interested party in exchange for a one-time cash buyout. The insurance coverage owner is provided with an amount that is more than the plan’s cash value, but less than the policy’s benefit. Once the life insurance policy is relinquished, the investor becomes the new owner on the policy and also assumes the obligation for ongoing repayments. The policy seller receives payment at the sale price, while the purchasing party gets the lump-sum payout when the insured person has passed.

In the state of CA., life settlements are governed under the auspices of the California Department of Insurance, and you ought to check the regulator’s site to make sure you are working with a sanctioned firm. Q Capital is a licensed life settlement provider (through its sister company, LSS) in the state of California.

The Process in Brief

After the policyholder decides that they are ready to relinquish their asset, a life settlement may be an option to ceasing the standing policy and relinquishing it to the insurer. Oftentimes, the value of the policy is greater than the actual amount that would be received if it were to be lapsed back to the insurer. Deciding to work with an approved firm, the policy owner can take the policy to a controlled marketplace where established investors may bid on life insurance policies. At that point the sanctioned life settlement provider can manage the whole process, from soliciting offers from potential investors, to collaborating and working with the owner of the policy to complete the sale closing process. And finally, policy sales are closed with an escrow agent, as an additional level of assurance for the life insurance policy seller. More often than not, the sales transaction procedure can be finished in about 30 to 60 days starting from the initial inquiry.

We Can Help You To Reach Your Financial Benchmarks

Life settlement deals are tricky and do require detailed knowledge and experience to find the perfect fit.

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Requirements for the Life Settlement Process

  • California 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 the best in the life settlement industry. Here are a number of illustrations of concrete results we have delivered.

  • 71 year old client owning a $3,000,000 plan. The insurance policy had zero cash value in the policy and the woman’s next premium was set at $89,580. Her plan was procured for $435,000.
  • A 76 year-old male in possession of a $1,002,592 policy. With only $2,592 remaining cash value in the policy, the monthly associated cost was going to drive the life insurance policy to lapse. We were able to find a buyer who compensated the trust $116,000 for the policy.
  • A 76 year-old in possession of a $700,000 policy. The insured was making ready to let the life insurance policy lapse since it was no longer needed. His financial advisor recommended that he search for a life settlement assessment and his life insurance policy was bought for $140,000.

Other California Resources and Information

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

Life Settlements
Life Settlement Forms
About California

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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