Life settlements in California are a regulated financial business. Anyone/entity transacting a life settlement in California is required to notify the California Department Of Insurance within 10 days as per the new rules covering life settlement transactions. Life settlements in California also require any agent who has been doing this type of business for less than one year, to take a 15 hour life settlement training course prior to qualifying for a life settlement broker license. Due to the ever increasing size of this industry California has “stepped up” regulations in an effort to curtail transactions that take advantage of the elderly. Regardless of what state you may be in, you should be careful and sign only documents that do not bind you to sell your policy until you are ready based on your objectives. There is nothing wrong in finding out what your policy is worth and it is something you should know from a settlement perspective as you may find it could be a great way to obtain cash you did not know you had available. Life settlements in California may be more regulated verses the state that you live in;however, as with any new financial transaction,you must be sure that the advisor you choose to work with is experienced in this arena. It is an exciting field but as with any business, there are those predator type people out there waiting to find a victim. A life settlement should be a smooth organized transaction and if done correctly your objective should you decide to sell your policy can be a nice
experience.
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