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

Here’s a Simple Life Settlement Definition

A life settlement is the selling of a person’s policy to an investor in exchange for a one-time purchase fee. The life insurance policyholder is paid a payment that is more than the policy’s cash value, yet less than the policy’s survivor benefit. Once the policy is sold, the purchaser is now the owner on the policy and also assumes all obligations for the ongoing repayments. The policy seller gets the payment, while the investor making the purchase officially receives the final payout when the insured becomes deceased.

In NM., life settlements are controlled through the New Mexico Office of Superintendent of Insurance, and you should visit the website to be very certain you work with a licensed company. No license for life settlement providers is required in the state of New Mexico.

Interested in How It Works?

Once the policy owner decides that they want to give up their existing policy, a life settlement may be a good option to quitting the life insurance policy and surrendering it to the life insurance company. In many cases, the policy cash value is more than the total amount to be received if it were surrendered. By working with an authorized company, the policy owner can take the policy to a bustling market where institutional investors may bid on policies. At that point the sanctioned life settlement provider can manage the complete process, from soliciting bids from potential investors, to collaborating with the owner of the policy to finish the policy sale closing process. Lastly, sales are finalized with an escrow agent, as an added layer of assurance for the insurance policy seller. Usually, the sales transaction procedure can be wrapped up within 30 to 60 days starting from the initial inquiry.