The number one tip from a life settlement insider on shopping your policy is communication. This may sound a little simplistic but many deals have fallen through the cracks because of a lack of communication.
An example of this is when you have agreed to sell the policy and have signed all of the contracts but you have failed to mention there is a collateral assignment on the policy. Once the buyer receives the signed documents, they contact the carrier to make sure they are buying exactly what they thought they were getting. The life insurance carrier will tell them that there is an assignment on the policy, which means it must be released before the policy can be transferred. Getting that completed may take several weeks and in today’s market, any life settlement insider will tell you that offer will be pulled and used to buy another policy without the delay.
To learn more tips from a life settlement insider, click the LIVEpdq.