If you are interested in selling your life insurance policy, you may be wondering which companies buy life insurance policies. Settlement Benefits Association works exclusively with pre-vetted licensed funding groups with which we have long-standing relationships. Even so, it is important for anyone considering a Life Settlement or Viatical Settlement to understand who can buy a term life insurance policy and the process involved.
When a group or individual buys your life insurance policy, they are making an investment. The buyer pays you a lump sum, always more than the policy’s cash surrender value but less than the full benefit. In exchange for this one-time payment, the buyer takes on all future premium payments and becomes the policy’s beneficiary. The buyer collects the full death benefit value when the policy owner passes away.
Some level of knowledge about the buyer is crucial for a policy owner in any settlement. In the case of Viatical Settlements, choosing the right buyer means you will not incur extra taxes later on. When exploring settlement options for life insurance buyers, pay close attention to:
Selling your life insurance policy is a major financial decision. Working with an experienced professional helps you understand the complex sales process and ensures every step follows local and federal laws.
By partnering with Settlement Benefits Association, you benefit from our knowledge and experience for a streamlined settlement experience. We help you:
Throughout the settlement process, buyers and policy owners will have a fair amount of contact with one another. After we agree to move forward in a settlement case, Settlement Benefits Association will facilitate communication for:
Settlement Benefits Association is dedicated to helping each client maximize the value of their life insurance policy. We can work with you to discuss your options for a Life Settlement or Viatical Settlement and determine what might make sense for you and your family.
To get started, contact us for a policy evaluation today.