Sell Your Life Insurance

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.

We Can Help You Achieve Your Financial Benchmarks

Life settlement negotiations are involved and can require detailed knowledge and expertise to find you the right fit.

Get started today with your absolutely No Obligation plan assessment from our distinguished partner!

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Requirements for the Life Settlement Process

  • New Mexico 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 at the zenith in the life settlement industry. Here are a handful of case histories of what we have accomplished.

  • A 71 year old woman in possession of a $3,000,000 plan. The plan had no cash value in the policy and her next premium payment was going to be $89,580. Her life insurance policy was picked up for $435,000.

  • 76 year old client in possession of a $1,002,592 policy. With only $2,592 cash value in the plan, the monthly financial burden was going to prompt the life insurance plan to lapse. We were able to recruit a purchase who paid the trust $116,000 for the policy.

  • A 76 year-old male in possession of a $700,000 life insurance policy. The owner was preparing to let the life insurance policy lapse since it wasn’t needed anymore. The man’s advisor recommended that he search for a life settlement assessment and his life insurance plan was acquired for $140,000.

Other New Mexico Resources and Information

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

New Mexico Statues – Approval Of Viatical Settlement Contracts
New Mexico Insurance Code
About New Mexico

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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