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

A quick explanation of life settlements.

One simple definition of a life settlement is: the sale of your existing coverage to a third-party for a one-time payment. The policy owner is provided with a cash payout that is greater than the policy’s cash value, yet less than the indemnity. Once the insurance coverage is transferred, the purchasing investor is now the new beneficiary and will assume all obligations for future costs. The policy seller receives the payment for their policy, and the person making the investment receives the lump-sum payout when the insured party has passed.

In HI, please seek out official Hawaiian insurance regulators (Department of Commerce and Consumer Affairs) to make sure that you are working with an approved firm.

How does it work?

Once the policy holder decides that it no longer makes sense to own the asset, life settlements offer a good option to discontinuing the standing life insurance policy and surrendering it back to the insurance company. In a large number of cases, the value of the insurance policy is more than the actual amount likely to be received if it were lapsed back. Working with a certified firm, the policy owner offers the policy up to a controlled secondary marketplace where established investors can bid on policies offered for sale. At which point the licensed life settlement provider can oversee the whole sales process, from soliciting bids from investors, to coordinating with the policyholder to finish the policy sale closing process. And lastly, all policy sales are finalized with an escrow agent, providing an additional layer of safety for the insurance policy seller. Often, the sale of a policy can be completed in 30 to 60 days starting from initial request.