Sell Your Life Insurance
A life settlement is: the sale of a person’s life insurance policy to another party for a one-time cash payment. The life insurance policyholder is given a payout that is more than the policy’s cash value, but still less than the plan’s survivor benefit. After the life insurance is given over, the buyer becomes the owner on the plan and also assumes all responsibility for the ongoing costs. The seller gets paid for the policy, while institutional or private investor becomes the possessor of the lump-sum payout when the insured person eventually passes away.
In the state of WA., life settlement policy are administered under the auspices of the Washington State Officer of the Insurance Commissioner, and we advise you to check the website to be very certain you work with a properly licensed firm. Q Capital is licensed as a life settlement provider in Washington.
After the policyholder decides that they are ready to give up their existing insurance policy, a life settlement may be a good option to concluding the policy and surrendering it to the insuring company. In a large number of cases, the value of the policy is higher than the total amount to be received if it were suddenly lapsed back to the company. Making the decision to work with a properly licensed company, the policy owner makes the policy available to a professional marketplace where organized investors are able to bid on policies offered up for auction. Then the licensed life settlement provider can watch over the entire process, from receiving offers from potential investors, to collaborating and working with the policy owner to finalize the policy-sale closing procedure. And finally, all insurance policy sales are finalized with an escrow agent, providing an additional layer of safety for the policy seller. Usually, the sales transaction procedure can be completed in 30 to 60 days from the initial inquiry.
Life settlement transactions are perplexing 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 absolute top in the life settlement industry. Here are a number of examples of concrete results we have achieved.
A 71 year old client insured on a $3,000,000 policy. The plan had zero cash value in the policy and our client’s next premium payment was scheduled as $89,580. Her plan was procured for $435,000.
A 76 year-old male having a $1,002,592 policy. With only $2,592 value in the policy, the monthly expense was going to cause the policy to lapse. We were able to recruit a buyer who remunerated the trust $116,000 for the life insurance plan.
A 76 year-old man insured on a $700,000 life insurance policy. The owner of the plan was fully ready to let the life insurance policy lapse since it had become unnecessary. Our client’s financial advisor instructed him to seek out a life settlement valuation and his life insurance policy was bought out for $140,000.
Office of the Commissioner
Selling Life Settlement Investments
About Washington
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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