A life insurance viatical settlement
in most ways begins the same as all other life settlements. Below are the steps that need to be taken in beginning a life insurance viatical settlement:
1. Find a reputable broker.
2. Fill out settlement application giving information about your life insurance policy.
3. Sign a HIPAA giving the broker the right to obtain and review your medical records as well as contact the life insurance carrier on your behalf to request required illustrations on your policy.
4. You may need to contact your doctors to help expedite the retrieval of your medical records- this happens on rare occasions when doctor’s offices have a long wait time for medical record copies.
5. Life expectancies purchased by broker- these are the determining factor in establishing that you are indeed a life insurance viatical settlement. It must state that your life expectancy is 24 months or less.
Once the steps above are complete your policy can be evaluated to see if there is a market for your policy. Generally speaking when working with a life insurance viatical settlement most policies will sell, it is just a matter of what you as the policy owner will accept for your life insurance policy.
Click our Livepdq link today so that we can help you with your life insurance viatical settlement now.