Sell Your Life Insurance

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

A Quick Explanation of Life Settlements

The definition of a life settlement is: the disposal of your life assurance to an investor in exchange for a one-time agreed amount. The coverage policyholder is given an amount that is more than the plan’s cash value, yet still less than the policy’s benefit. After the life insurance policy is given over, the purchasing party becomes the rightful beneficiary on the plan and also will assume all responsibilities for the ongoing payments. The seller receives the agreed upon amount, and the investor gets the lump-sum payout when the insured passes.

In SC., life settlements are controlled by the South Carolina Department of Insurance, and you should check the website to be very certain that you are dealing with an approved company. Q Capital is a licensed life settlement provider in the great state of South Carolina.

How Does the Process Work?

When a policyholder takes the decision that they are willing to give up the existing insurance policy, a life settlement may be a good option to lapsing the life insurance policy and relinquishing it to the insuring company. In many cases, the policy cash value is more than the amount to be received if it were simply lapsed back to the company. In choosing to work with a sanctioned firm, the owner can take the policy to a competitive marketplace where established investors are able to bid on insurance policies. At which point the licensed life settlement provider can watch over the complete sales process, from soliciting bids from various investors, to coordinating with the policy owner to complete the sale closing process. Finally, all insurance policy sales are closed with an escrow agent, as an added layer of protection for the insurance policy seller. Often, the policy sale cycle can be completed in 30 to 60 days starting from the initial request.

We Can Help You Reach Your Goals

Life settlement agreements are complicated and often require extensive knowledge and expertise to tailor the best option.

You can start now with your no obligation plan appraisement through our distinguished industry partner!

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Requirements for the Life Settlement Process

  • South Carolina 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 tops in the life settlement industry. Here are a handful of case histories of concrete results we have accomplished.

  • A 71 year old client with a $3,000,000 policy. The plan had zero cash value in the policy and her next premium payment would have been $89,580. Her life insurance plan was bought out for $435,000.

  • 76 year old male in possession of a $1,002,592 policy. With only $2,592 value remaining in the plan, the monthly financial burden was going to drive the plan to lapse. We located a buyer who paid the trust $116,000 for the policy.

  • A 76 year-old male insured on a $700,000 plan. The policy owner was ready to let the life insurance policy lapse because it had become unnecessary. Our client’s adviser suggested that the man should search for a life settlement evaluation and his life insurance plan was acquired for $140,000.

Other South Carolina Resources and Information

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

South Carolina Dept Of Insurance
On The Money: Another Look At Life Settlements
About South Carolina

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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