Sell Your Life Insurance

Why Surrender Your Insurance When You Can Enjoy The Financial Benefits of a Life Settlement In Florida?

What Is A Life Settlement?

A life settlement is the sale of an existing life insurance policy to a third-party investor for an upfront cash payment. The policy owner is paid an amount that is greater than the policy’s cash value, but less than the death benefit. After the policy is sold, the buyer becomes the beneficiary on the life insurance policy and assumes the responsibility for the ongoing premium payments. The seller gets the up-front payment, and buyer receives the death benefit when the insured passes away. In Florida, life settlements are regulated by the Florida Office of Insurance Regulation, and you should check the website to make sure that you are working with a properly licensed company. Q Capital is licensed as a life settlement provider in Florida.

How Does It Work?

When a policy owner decides that it no longer makes sense to own an insurance policy, a life settlement is an alternative option to surrendering or lapsing the life insurance policy back to the insurance company. In many circumstances, the policy value is higher than the amount that would be received if the policy were to be surrendered or lapsed. Working with a licensed life settlement provider, the policy owner can take the policy to a competitive marketplace where institutional investors bid on life insurance policies. The licensed life settlement provider will oversee the entire sales process from soliciting offers from investors to working with the policy owner to complete the policy sale closing process. All policy sales are closed with an escrow agent, as an extra level of protection for the policy seller. Typically, the sale of a policy can be completed in 30 to 60 days from initial inquiry.

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Life settlement transactions are intricate and do require extensive knowledge and expertise to find just the right solution.

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Requirements For The Life Settlement Process

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

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

Policy Verification and Analysis
Sale and Auction Marketing
Policy Sale Closing

Case Studies

Our partners are the best in the life settlement industry. Here are a few examples of what we have achieved.

71 year-old female with a $3,000,000 policy. There was no cash value in the policy and her next premium was going to be $89,580. Her policy was purchased for $435,000.
76 year-old male insured on a $1,002,592 policy. With only $2,592 cash value in the policy, the monthly cost was going to cause the policy to lapse. We found a buyer who paid the trust $116,000 for the policy.
76 year-old male with a $700,000 policy. The policy owner was prepared to let the policy lapse because it was no longer needed. His financial advisor instructed him to seek a life settlement evaluation and his policy was purchased for $140,000.

Other Florida Resources And Information

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

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Tell us a little about your situation and we’ll help you assess whether a life settlement is right for you.