Insurance Injury Settlement

A Life Insurance Settlement is the sale of a life insurance policy to a third party for a lump sum. As the education continues to grow, more and more seniors are looking for assistance for preparing their policy for sale.  There are a few steps you should follow to prepare your policy for the Life Settlement market.

First you need to get a life settlement application from a life settlement broker or funding company. Filling out the information is pretty self explanatory, but it is important to be accurate and complete while filing it out.

Once you have the application, you then need to get as much information about your life insurance policy. Including premiums, face amount, policy number, issue date, beneficiary, carrier, type of policy, etc.. If you don’t have a copy of your policy, now would be a good time to request one directly from the carrier.

Next you want to make sure you have information about your current and previous health. Most life settlement companies would like to see the previous 3 years of medical records. You can request this yourself from your doctor and send in with the application, or simply provide the names and contact information of your doctor in the application. Make sure to include any specialists you may have visited in the past 3 years.

Finally, complete and sign the application, if you are going to send to multiple companies you may be required to fill out a few different applications. Keep your information handy so that you can speed the process up. After completing and sending in your application, check with the company you are working to verify they received the application and ask them to review and immediately request any missing items. If items are missing it can slow down the processing, so it is important to find out quickly what they need.

Prepare to wait 30-90 days while your Life Settlement case is on the market to see if a settlement is available.

Find a: Life Settlement Company

Use our: Life Settlement Calculator