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.