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

Here’s a Simple Life Settlement Definition

One definition of a life settlement is the sale of a prevailing life insurance policy to another party in exchange for a one-time agreed amount. The insurance coverage policyholder is provided with a cash payout that is more than the plan’s cash value, but still less than the indemnity. After the insurance policy is transferred, the purchaser becomes the rightful owner on the policy and naturally must assume responsibility for future repayments. The seller gets paid for the policy, while the purchasing party takes over the lump-sum payout once the insured person does pass.

In VA., life settlements are managed through the Commonweath of Virginia Bureau of Insurance, and you really should check the official site to be absolutely certain you are working with a certified company. Q Capital is a licensed life settlement provider in Virginia.

A Brief Description of How It Works

When a policyholder takes the decision that they are willing to give up the current policy, a life settlement is an option to ceasing the life insurance policy and surrendering it to the life insurance company. Often, the value of the insurance policy is more than the amount that would be received if it were to be lapsed back to the company. Working with a licensed life settlement provider, the policy owner makes the policy available to a fair marketplace where organized investors may bid on policies offered up for auction. At that point the licensed life settlement provider can watch over the entire process, from soliciting offers from potential investors, to collaborating with the policy owner to complete the policy sale closing procedure. And lastly, all insurance policy sales are closed with an escrow agent, as an additional level of safety for the policy seller. Many times, the policy sale cycle can be finished in 30 to 60 days starting from initial inquiry.