ife Settlements, also Policyholders will provide a
commonly referred to, as current policy illustration,
Life Insurance Settlements medical records, for the insured,
are quickly becoming an exciting as well as other documents that
financial planning tool for may be requested.
seniors and the financial
advisors who assist these After a completed thorough
seniors. evaluation of the policy, a
potential life settlement value
The initial process before is determined for each individual
determining if a settlement is case submitted. This evaluation
available is meeting a few of the includes a review of submitted
basic requirements. The types of medical records by an independent
insurance policies that can be medical underwrite. A medical
considered for a life settlement exam or physical is NOT required.
are universal life, whole life,
variable life, survivorship (any If the funding source is
type), adjustable life, joint interested in purchasing the
first to die, and term insurance policy, an offer to purchase the
(if convertible). It is also policy is communicated to the
common practice for the insured policyholder's broker or
to be over the age of 65. financial advisor (Not all
policies will qualify for a life
The process begins with when the settlement).
individual policyholder "cases"
are submitted to a Life If the offer is accepted, closing
Settlement Broker or Company documents are prepared and sent
through a completed application to the policy owner through their
and a HIPPA release form. life settlement professional. The
documentation that is issued is
easy to follow and full support life settlement process. The
and assistance is offered settlement offer is determined on
throughout the process. a case-by-case basis and
evaluation of the policy is
It is the policyholders chose if required before an offer can be
the want to accept or decline the made.
offer. There is never any cost or
obligation during the initial
About the Author:
Life Settlement Pro is a Life Settlement Broker and provides detailed information about life insurance settlements, life settlements, senior life settlements, licensed Life Settlement Company and more. Visit at http://www.lifesettlementpro.com/
Read more articles by:
Grant Shellhammer
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