Sell Your Life Insurance
The definition of a life settlement is: the sale of a prevailing policy of insurance to someone else in exchange for an upfront purchase fee. The life policy owner is provided with a payment that is well above the plan’s cash value, but still less than the maturity benefit. After the insurance policy is turned over, the investor is now the legal owner on the policy and will assume all responsibility for future premiums. The policyholder receives payment at the sale price, and the investor making the purchase receives the lump-sum payout once the insured party has passed away.
In the state of MA., life settlement policy are managed through the MA Division of Insurance, and we advise you to check the site to be very certain you are dealing with an authorized firm. Q Capital is a licensed life settlement provider in the state of Massachusetts.
When a policyholder takes the decision that it no longer makes sense to own the existing insurance policy, a life settlement may be an attractive option to terminating the standing life insurance policy and surrendering it to the insuring company. Many times, the value of the policy is higher than the total amount that would be received if it were lapsed back the insurance company. Doing business with a licensed life settlement provider, the policyholder can take the policy to a interested market where investors can bid on policies offered for sale. Then the sanctioned life settlement provider can guide the complete sales process, from inviting offers from various investors, to working with the owner of the policy to complete the policy sale closing process. Lastly, policy sales are finalized with an escrow agent, providing an extra level of assurance for the policy seller. More often than not, the policy sale cycle can be wrapped up within 30 to 60 days from initial request.
Life settlement agreements are complicated and depends on specific knowledge and expertise to help you find the right fit.
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Once the policy has been received with all of the required information, the life settlement process continues as follows:
Q Capital Strategies’ partners are at the zenith in the life settlement industry. Here are a handful of case histories of what we have delivered.
A 71 year-old female having a $3,000,000 plan. There was no cash value in the policy and her next premium would have been $89,580. Her life insurance plan was picked up for $435,000.
A 76 year old man owning a $1,002,592 policy. With only $2,592 value in the plan, the monthly associated cost was going to cause the policy to lapse. We were able to recruit a purchase who remunerated the trust $116,000 for the policy.
A 76 year old male in possession of a $700,000 life insurance plan. The insured was ready to let the life insurance policy lapse since it was no longer needed. His advisor suggested that the man should seek out a life settlement evaluation and his plan was bought for $140,000.
MA Provider Requirements (PDF)
MA Legislature Statutes
About Massachusetts
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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