Life Settlement Frequently Asked Questions (FAQs)

When you sell your life insurance policy, the seller receives cash, and the buyer becomes the owner and beneficiary. The new owner will pay all future premiums and receive the death benefit when the original owner passes away.

The policy owner must be at least 65 to complete a life insurance settlement. If you have a terminal illness, you can sell your policy in a Viatical Settlement no matter your age. For both settlements, you can use the funds however you wish. The majority of policy owners use their settlement for health care and final expenses.

The Life Settlement broker represents the policy owner of the life insurance. 

No, Settlement Benefits Association will serve as a back office and underwrite and negotiate the settlement.

You do not need to provide medical records, but you do need to complete a HIPAA release form. The Settlement Benefits Association team can provide the record retrieval necessary to build the insured’s file. The policy owner will also need to sign insurance release forms, but our team can provide a retrieval service if necessary. All appraisals and retrieval services are without costs and obligations to best benefit our clients.

You can call us at 888-255-0444 to discuss your case, or use our Visual Valuator to see your policy’s value.

Life Settlement licensing requirements vary between states. For example, some states require life agents and financial professionals to have a license to source policies or receive commissions. Settlement Benefits Association does not have a license in all states. 

An account executive works with you throughout the entire Life Settlement process. You can also contact them for updates throughout. We also have an online system where financial professionals can access electronic updates.