Sell Your Life Insurance

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.

We Can Help You To Achieve Your Financial Goals

Life settlement agreements are perplexing and usually require specific knowledge and expertise to help you find the right fit.

You can start now with a NO OBLIGATION policy valuation from our top industry partner!

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Requirements for the Life Settlement Process

  • Virginia 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 the absolute top in the life settlement industry. Here are several illustrations of results we have delivered.

  • A 71 year-old female with a $3,000,000 policy. The policy had no cash value in the policy and her next payment was going to be $89,580. Her life insurance policy was bought out for $435,000.

  • 76 year old client insured with a $1,002,592 policy. With only $2,592 value remaining in the life insurance plan, the monthly disbursement was going to drive the policy to lapse. We found a buyer who remunerated the trust $116,000 for the life insurance plan.

  • A 76 year-old client insured on a $700,000 life insurance plan. The insured was fully ready to let the policy lapse because it was no longer needed. The man’s advisor recommended that he search for a life settlement valuation and his life insurance plan was bought out for $140,000.

Other Virginia Resources and Information

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

Virginia Corporation Commission
Viatical Settlements Contracts
About Virginia

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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