Patience are a virtue when you sell insurance policy
ownership as it can take anywhere from thirty to one hundred and eighty days from beginning the bidding process to end of sales process. It is important to understand what is required in order to obtain an offer when someone wants to sell insurance policy ownership.
In order to begin got sell insurance policy ownership the life settlement broker must gather the following: all medical records on the insured for the last five years (this does not usually include ophthalmology or dental records), life expectancies from independent life expectancy companies based off of the medical records obtained from all of the insured’s medical records, policy illustration from the life insurance carrier, a policy summary or verification of coverage from the carrier, and a copy of the insurance policy (this is not required in the beginning, but it is helpful).
Once everything is gathered and sent to the life settlement funders they review the information and put the numbers through their pricing programs to see if they would be able to purchase the policy that you are trying to sell life insurance ownership on.
Once you have an agreeable sale amount. The life settlement broker gives you the life settlement contracts and helps you with any question that you have. These contracts along with the life settlement broker will also tell you what additional information they require. This usually includes a copy of the insured’s and owner’s driver’s license or state ID, the insured’s and owner’s social security verification, and the original policy.
If you are want to sell life insurance policy ownership on a policy that you no longer want, need or can no longer afford click our LIVEpdq link now so we can get started helping you today.