Sell Your Life Insurance

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

What is a Life Settlement?

One definition of a life settlement is the disposal of a person’s life assurance to another party for a one-time cash settlement. The life assurance owner is provided with a cash payout that is greater than the policy’s cash value, but less than the death benefit. After the life insurance policy is given over, the buyer is now the new owner on the plan and naturally must assume all obligations for the ongoing costs. The policyholder gets paid for the policy, and the buyer takes possession of the final payout when the insured party has passed.

In TN., life settlements are managed through the Tennessee Department of Commerce & Insurance, and you ought to check the official website to be certain that you have found a certified firm. Q Capital is licensed as a life settlement provider in the great state of Tennessee.

Short take on how it works.

Once a policy owner takes the decision that it’s not worth keeping the current policy, a life settlement offers a good alternative to ceasing the policy and relinquishing it back to the insurance company. Many times, the policy cash value is greater than the amount to be received if it were to be lapsed back the insurance company. Making the decision to work with an approved company, the policy owner offers the policy up to a bustling marketplace where organized investors may bid on insurance policies. At which point the accredited life settlement provider can watch over the whole sales process, from soliciting offers from various investors, to working with the owner to finish the policy-sale closing procedure. And lastly, all insurance policy sales are finalized with an escrow agent, as an extra level of protection for the life insurance policy seller. Often, the sale of a policy can be finished within 30 to 60 days from the initial request.

Let Us Help You To Reach Your Goals

Life settlement transactions are complex and necessitate specific knowledge and experience to help you find the right fit.

Get started today with a absolutely no obligation plan valuation with our topflight partner!

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Requirements for the Life Settlement Process

  • Tennessee 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 examples of what we have accomplished.

  • A 71 year-old female owning a $3,000,000 policy. The plan had zero cash value in the policy and the woman’s next premium was scheduled as $89,580. Her plan was bought for $435,000.

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

  • A 76 year-old man owning a $700,000 life insurance policy. The policy owner was ready to let the life insurance policy lapse since the plan was no longer needed. Our client’s financial advisor recommended that he seek out a life settlement assessment and his plan was bought out for $140,000.

Other Tennessee Resources and Information

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

Tennessee Life Settlements (PDF)
Licensing Procedures Memo
About Tennessee

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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