Life Settlement & Viatical Settlement Information

3. What are the benefits of selling my life insurance policy?
Selling your life insurance allows you to:

• Enjoy a higher quality of life
• Enjoy personal independence and dignity
• Purchase financial products or investments which are more suited to your present life circumstances
• Exercise greater control over your health care options
• Take care of any personal debt
• Take a dream vacation
• Buy a new car or home
• Make gifts to loved ones or charities
• Compensate for lost income
• Take care of financial arrangements
• Have peace of mind

4. How much can I expect to receive?
An offer for a policy is affected by a number of factors such as your life expectancy, future premiums due on the policy, whether or not there is a loan on the policy, and the market conditions for your policy. We always try to make the most competitive offer possible. We never charge a fee for reviewing your policy and you are never under any obligation or pressure from us to sell your policy.

5. What type and size policy can be sold?
Most individual and group life insurance policies with a face value of $25,000 or greater can be sold. The policy must not contain a restriction prohibiting transfer of ownership rights and all parties must agree to the transfer of ownership.

6. How do I know if I qualify?
You qualify if:

• The face value of the policy is $25,000 or more
• The policy has been in force at least two years
• The policy is non-contestable
• You have a life expectancy which can be reasonably and empirically estimated based on your health and age

7. Am I responsible for my premiums after I sell my policy?
No, the person who buys the rights to your policy is responsible for the payment of the premiums.

8. How long does the process take?
The entire process usually takes between 3 and 6 weeks, depending on the amount of cooperation from your health care providers and your life insurance company.

9. What does the service cost?
SecureLifeSettlements charges no fees to you.

10. What are the tax consequences of selling my policy?
We cannot give tax advice. In some circumstances, the money you receive from the sale of your policy may be exempt from federal income tax and state income tax. In addition, federal law requires that our escrow agent send an IRS Form 1099 to the owner of the policy and the IRS. This cannot be avoided by directing that the proceeds be paid to another party. We recommend you check with a tax professional in your state for the latest information.

11. How are funds delivered?
Although you can request a regular business check, we HIGHLY recommend that you request a wire transfer. Wire transfers are faster, more secure, and not subject to being held for several business days until the check clears. Each bank has its own instructions for wiring funds. Your bank can provide you with wiring information.

12. Do you purchase foreign life insurance policies or US policies on the lives of foreign persons?
The policy must be issued by a US insurer or a foreign insurer which does business in the US and is subject to US laws. If the insured is a resident alien with a US social security number, we may be able to purchase the policy.

Use our calculator to estimate what your policy is worth... click here