Sell Your Life Insurance

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

What in the world is a life settlement? Life settlements in a nutshell.

One definition of a life settlement is: the disposal of a person’s life policy to an interested person for an upfront agreed upon amount. The coverage plan policyholder is given a cash payout that is more than the policy’s cash value, yet still less than the survivor benefit. After the life insurance policy is turned over, the purchasing party becomes the rightful beneficiary on the policy and also must assume all obligations for future repayments. The seller receives payment at the sale price, while the person buying the policy gets the lump-sum payout once the insured person has passed.

In MS., life settlement policy are administered by the Mississippi Insurance Department, and you ought to look at the website to be certain you work with an approved firm. Q Capital is a licensed life settlement provider in Mississippi.

Here’s how a life settlement works.

When a policyholder decides that they want to give up their current insurance policy, a life settlement may be an option to lapsing the standing policy and surrendering it back to the insurer. Oftentimes, the insurance policy value is greater than the total amount likely to be received if it were simply surrendered. Doing business with a certified company, the policy owner offers the policy up to a competitive market where established investors are able to bid on insurance policies. At that point the accredited life settlement provider may direct the whole process, from receiving offers from investors, to coordinating with the policy owner to finish the policy-sale closing process. Finally, policy sales are finalized with an escrow agent, as an additional layer of protection for the insurance policy seller. More often than not, the sales transaction procedure can be wrapped up within 30 to 60 days starting from the initial request.

Let Us Help You To Reach Your Financial Benchmarks

Life settlement deals are involved and depend upon specific knowledge and experience to assess all the options.

Get started today with a absolutely No Obligation policy assessment through our distinguished partner!

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Requirements for the Life Settlement Process

  • Mississippi 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 the very best in the life settlement industry. Here are a few examples of results we have accomplished.

  • A 71 year-old client having a $3,000,000 policy. The plan had no cash value in the policy and our client’s next premium would be $89,580. Her plan was bought for $435,000.

  • A 76 year-old male in possession of a $1,002,592 policy. With only $2,592 cash value in the plan, the monthly expense was going to cause the life insurance plan to lapse. We recruited a purchase who remunerated the trust $116,000 for the life insurance plan.

  • 76 year old client owning a $700,000 life insurance policy. The owner was making ready to let the plan lapse since it had become unnecessary. His financial advisor recommended that he search for a life settlement assessment and his life insurance plan was picked up for $140,000.

Other Mississippi Resources and Information

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

Viatical Settlements Regulations (PDF)
Wringing Cash From A Policy
About Mississippi

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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