If you are considering the sale of one or more of your life insurance policies it would be a good idea to engage the assistance of a life settlement agent. Depending on licensing this could be different than your life insurance agent as a different license for processing life settlements is needed in many states. While many life insurance agents have registered themselves as a life settlement agent you will need a licensed entity involved to complete these transactions in most states.
A life settlement agent has a job to ensure he or she is working in the policy owner’s best interest to assure the owner receives the best settlement possible along with following all appropriate guidelines to safely guide the policy owner through what can be a complicated process. To obtain the best possible settlement for a policy a life settlement agent needs to ensure a policy is presented in its ‘best light’ to as many investors that are looking for the characteristics of the policy. Additionally the settlement agent needs to have an idea of what the policy is worth on the open market to an investor. By knowing this a ‘low ball’ bid can be avoided as well as providing advice to the policy owner of letting them know when an appropriate offer has been relayed and should be accepted before the investor moves on to another potential policy.
A life settlement agent earns their commission by doing a good job throughout the process and ensures the policy owner feels good about the final deal that has been made for the policy. By any large this is accomplished with a good settlement agent but at any time if one feels uncomfortable that the policy owner’s best interests are not in line a replacement should be sought out.
To learn more about finding a settlement agent please visit LIVEpdq.