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

Here’s a simple life settlement definition

One definition of a life settlement is: the selling of your insurance policy to an interested party for a one-time buyout. The life insurance plan policyholder is given a payout that is above the cash value, yet less than the plan’s benefit. After the life insurance policy is transferred, the buyer is now the legal owner on the plan and also will assume the duty for future payments. The policy seller receives the up-front payment, while the person making the purchase receives the final payout once the insured person does pass away.

In CT., life settlements are regulated through the State of Connecticut Insurance Department, and you ought to look at the regulator’s site to be very certain that you are working with an authorized firm. Q Capital is licensed as a life settlement provider in the state of Connecticut.

How does the process work?

After the policy owner decides that they are ready to relinquish the asset, a life settlement is an alternative option to expiring the standing life insurance policy and relinquishing it to the insurer. Often, the insurance policy value is greater than the amount to be received if it were just lapsed back to the insurer. Deciding to work with a certified company, the owner makes the policy available to a competitive market where established investors may bid on policies. The accredited life settlement provider may direct the complete sales process, from soliciting bids from potential investors, to collaborating with the policy owner to complete the policy sale closing procedure. And finally, sales are closed with an escrow agent, as an added layer of protection for the life insurance policy seller. Usually, the sales transaction procedure can be finished in about 30 to 60 days from initial request.