Consumers selling their life insurance policies should make sure they get the most value from their policies. Following is a partial list consumers should follow to be sure they are properly guided and paid in a senior life settlement transaction:
• Deal with a Life Settlement Broker, also known as a Viatical Broker or Senior Life Settlement Broker. Using a broker will guarantee that you get the most cash available for your policy. Brokers will shop your case to many buyers suited for your policy. Brokers can calculate the approximate value of your life insurance policy. Going direct to a buyer, in some cases, results in a seller accepting a sale under the actual market price.
• Make sure your Life Settlement Broker is well established and maintains a real office. Make sure to deal with individuals who are easily identified as being established. Make sure your broker has a real company email address. Make sure your broker has a real functioning web site on which information about the Company is readily available.
• Search the web and make sure you find information about the broker, including Company personnel. Reputable Life Settlement Brokers will be easily found in a search. Professionals will often be quoted in industry articles and magazines.
• Your Life Settlement Broker must be licensed to do business in most states. Check state web sites to make sure they are in fact licensed, or ask them to show you a copy of their license.
• Fill out a complete application provided by your broker and have a clear understanding of what your broker will be compensated for when representing you in a sale.
• Have your broker explain the complete process and expected timeline from the time of application until you get paid.
• Ask your broker to provide you with all required disclosures required by state law.
• Understand your options and alternatives to selling your life insurance policy.
• Make sure a reputable and established buyer buys your policy. Institutional investors, banks and hedge funds will provide the most professional and confidential handling of your information.
• Do not sell to an individual buyer unless you are well informed about the buyer and you are sure it is legal to do so in your state.
• Call Settlements For Life, broker since 2003, to assist you with the sale of your policy. Settlements For Life was founded by a CPA and provides professional, personalized and confidential service to each of its clients.
To find out more about Settlements For Life’s services, please contact a representative at:
Phone: 877.588.5558
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Sell your life insurance policy for more than the cash surrender value. Enhance The Value Of Your Life! A life settlement, viatical settlement or senior settlement could get you cash now for the life insurance policy you no longer need or want. Subscribe to this blog by clicking the Bloglines link.
