A life settlement broker is in intermediary between the life settlement agent and the life settlement company. The life settlement broker works with the life settlement agent by obtaining the client’s information, which includes: medical records so that more than one life expectancy report can be completed, in-force insurance policy illustrations and a completed life settlement application that includes owner and beneficiary information. The life settlement broker then submits this information to various life settlement companies in order to receive the best offers for the client’s insurance policy. Once an acceptable offer has been received the broker will then receive closing documents that the client will complete in order to finalize the life settlement transaction. A broker can be very beneficial not just in assisting with the life settlement process, but also in obtaining the best offer on your policy.
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