Sell Your Life Insurance

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

Here’s a Simple Life Settlement Definition

A simple definition of a life settlement is the selling of a person’s coverage to someone in exchange for an upfront agreed upon amount. The coverage policyholder is provided with a payment that is greater than the plan’s cash value, yet still less than the plan’s benefit at maturity. After the insurance coverage is transferred, the investor is now the new beneficiary on the plan and will assume the obligation for ongoing repayments. The person selling their policy gets paid for the policy, and the person making the purchase receives the lump-sum payout when the insured party does pass.

In DE., life settlements are administered under the auspices of the Delaware Department of Insurance, and you’re best off if you visit the official website to be absolutely certain you are working with an approved firm. Q Capital is a licensed life settlement provider in Delaware.

Quick Take on How it Works

Once a policyholder takes the decision that they are looking to give up their asset, a life settlement may be a good option to quitting the standing life insurance policy and relinquishing it to the insurance company. In a large number of cases, the policy cash value is higher than the actual amount likely to be received if it were just lapsed. Making the decision to work with a sanctioned firm, the owner can take the policy to a bustling market where organized investors can bid on policies offered up for auction. At which point the sanctioned life settlement provider can watch over the complete sales process, from receiving offers from investors, to coordinating with the policy owner to complete the policy-sale closing process. And finally, all sales are closed with an escrow agent, as an additional level of assurance for the policy seller. Often, the sale of a policy can be completed within a month or two dating from the initial request.

Let Us Help You To Achieve Your Financial Benchmarks

Life settlement agreements are tricky and necessitate extensive knowledge and experience to find a solution.

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Requirements for the Life Settlement Process

  • Delaware 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 Strategies’ partners are tops in the life settlement industry. Here are a handful of illustrations of concrete results we have accomplished.

  • A 71 year-old woman insured on a $3,000,000 plan. The insurance policy had zero cash value in the policy and her next payment was set at $89,580. Her life insurance plan was acquired for $435,000.

  • 76 year-old man insured on a $1,002,592 policy. With only $2,592 cash value in the life insurance policy, the monthly financial cost was going to drive the plan to lapse. We located a purchase who remunerated the trust $116,000 for the policy.

  • 76 year-old client insured with a $700,000 life insurance policy. The owner of the plan was fully ready to let the life insurance plan lapse because the plan was no longer needed. His financial advisor recommended that he seek out a life settlement assessment and his plan was bought out for $140,000.

Other Delaware Resources and Information

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

Delaware Viatical Settlements Act
Delaware Life Settlement Event
About Delaware

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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