Sell Your Life Insurance
A simple definition of a life settlement is: the disposal of a prevailing life insurance plan to an investor in exchange for a one-time buyout. The insurance policy owner is paid a payment that is more than the policy’s cash value, but less than the plan’s benefit at maturity. After the life policy is sold, the investor is the new rightful beneficiary on the plan and naturally assumes the obligation for the ongoing repayments. The policyholder gets paid for the policy, while the person buying the policy takes over the death benefit once the insured party does pass away.
In TX., life settlement policy are regulated by the Texas Department of Insurance, and you should check the official website to be very certain you have found a certified firm. Q Capital is licensed as a life settlement provider in Texas.
Once a policy owner decides that they are ready to move on from their policy, a life settlement offers a good alternative to expiring the standing life insurance policy and surrendering it back to the insurance company. Much of the time, the value of the insurance policy is more than the amount to be received if it were lapsed back. Working with a properly licensed company, the policy owner offers the policy up to a fair marketplace where established investors may bid on insurance policies. At that point the licensed life settlement provider will oversee the entire sales process, from inviting offers from potential investors, to collaborating with the owner of the policy to complete the policy sale closing process. And lastly, all insurance policy sales are finalized with an escrow agent, providing an added layer of safety for the insurance policy seller. Typically, the sales transaction procedure can be wrapped up within 30 to 60 days starting from initial request.
Life settlement agreements are complex and depends on specific knowledge and expertise to tailor the best option.
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Once the policy has been received with all of the required information, the life settlement process continues as follows:
Q Capital’s partners are the very best in the life settlement industry. Here are a handful of case histories of what we have achieved.
71 year old client insured with a $3,000,000 policy. The plan had zero cash value in the policy and her next payment was $89,580. Her life insurance plan was bought for $435,000.
76 year-old client insured with a $1,002,592 policy. With only $2,592 remaining value in the life insurance policy, the monthly burdensome expense was going to cause the plan to lapse. We recruited a purchase who compensated the trust $116,000 for the life insurance plan.
A 76 year-old man owning a $700,000 life insurance plan. The owner of the plan was making ready to let the life insurance policy lapse because it had become unnecessary. The man’s financial advisor recommended that he search for a life settlement assessment and his plan was procured for $140,000.
Texas Dept of Insurance
TDI Licensing Rules
What Are Life Settlements?
About Texas
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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