Sell Your Life Insurance

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

Want a Simple Life Settlement Definition?

One definition of a life settlement is: the selling of a prevailing insurance policy to an interested party for an upfront buyout. The life assurance owner is provided with a cash payout that is higher than the cash value, but still less than the policy’s survivor benefit. Once the policy is turned over, the purchaser becomes the legal owner on the plan and must assume the duty for ongoing payments. The policy seller gets the payment, while the person making the investment gets the final payout once the insured passes away.

In NJ., life settlements are managed by the Department of Banking & Insurance, and we advise you to check the official site to make sure you are dealing with an approved firm. Q Capital is a licensed life settlement provider in New Jersey.

Briefly, How it Works

When a policyholder decides that they are ready to give up their asset, a life settlement offers a good alternative to quitting the life insurance policy and surrendering it back to the insurer. In many cases, the insurance policy value is more than the actual amount that would be received if it were just lapsed. Making the decision to work with an authorized firm, the policy owner makes the policy available to a bustling market where organized investors are able to bid on policies offered for sale. At which point the accredited life settlement provider can watch over the whole sales process, from inviting offers from various investors, to working with the policy owner to finish the policy sale closing process. Lastly, all sales are closed with an escrow agent, providing an additional level of protection for the policy seller. Many times, the sale of a policy can be completed within 30 to 60 days from initial request.

We Can Help You To Reach Your Goals

Life settlement negotiations are involved and mandate specific knowledge and experience to find just the right solution.

Don’t wait to get started with a absolutely No Obligation policy evaluation with our principal industry partner!

Get In Touch

Requirements for the Life Settlement Process

  • New Jersey 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’s partners are the very best in the life settlement industry. Here are a handful of case histories of what we have delivered.

  • 71 year old female in possession of a $3,000,000 life insurance plan. The plan had zero cash value in the policy and her next premium payment was set at $89,580. Her life insurance plan was purchased for $435,000.

  • 76 year old man insured on a $1,002,592 policy. With only $2,592 cash value in the life insurance plan, the monthly associated cost was going to prompt the life insurance policy to lapse. We were able to locate a buyer who paid the trust $116,000 for the life insurance policy.

  • A 76 year old client insured on a $700,000 policy. The insured was prepared to let the life insurance policy lapse since the plan was no longer needed. The man’s financial adviser recommended that he search for a life settlement evaluation and his life insurance policy was purchased for $140,000.

Other New Jersey Resources and Information

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

Viatical Settlements Statute
NJ Dept of Banking?Insurance Overview
About New Jersey

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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