Sell Your Life Insurance

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

Here’s a Simple Life Settlement Definition

One definition of a life settlement is: the disposal of an existing life insurance to a third-party for a one-time cash payment. The insurance coverage owner is given an amount that is more than the cash value, but less than the indemnity. Once the life insurance plan is transferred, the investor is now the legal owner on the policy and naturally will assume all responsibilities for future payments. The seller receives the cash stipend, while the person making the investment officially receives the lump sum benefit when the insured person does indeed pass.

In NY., life settlement policy are governed through the New York Department of Financial Services, and you really should take a look at the site to be certain you work with an approved firm. Q Capital is licensed as a life settlement provider in the great state of New York.

How does the Process Work?

When the policyholder decides that they are ready to relinquish their current insurance policy, a life settlement may be a good option to terminating the policy and surrendering it to the insurance company. Many times, the value of the policy is greater than the actual amount to be received if it were surrendered. In choosing to work with a licensed life settlement provider, the owner offers the policy up to a bustling market where organized investors can bid on life insurance policies. The accredited life settlement provider can manage the overall process, from receiving offers from various investors, to collaborating and working with the policyholder to finalize the policy-sale closing process. Lastly, all sales are closed with an escrow agent, providing an extra level of safety for the insurance policy seller. More often than not, the sales transaction procedure can be completed within a month or two from initial request.

Let Us Help You To Reach Your Goals

Life settlement negotiations are complex and need extensive knowledge and experience to help you find the right fit.

Don’t wait to start with your no obligation plan assessment from our principal industry partner!

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Requirements for the Life Settlement Process

  • New York 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

Our partners are tops in the life settlement industry. Here are several illustrations of what we have accomplished.

  • 71 year old female insured with a $3,000,000 plan. The insurance policy had zero cash value in the policy and our client’s next payment would have been $89,580. Her policy was bought for $435,000.

  • 76 year-old male insured on a $1,002,592 policy. With only $2,592 cash value in the life insurance policy, the monthly cost was going to drive the plan to lapse. We recruited a purchase who compensated the trust $116,000 for the life insurance policy.

  • A 76 year old man in possession of a $700,000 policy. The insured was making ready to let the policy lapse since it was no longer needed. The man’s financial advisor suggested that the man should seek out a life settlement valuation and his life insurance policy was procured for $140,000.

Other New York Resources and Information

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

NY Dept Of FInancial Services
NY Life Settlement Code
About New York

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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