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Cost Of A Life Settlement
How much does a life settlement cost and how much time does it take?
In short, there is no cost. In a life settlement transaction, the policy owner only pays a commission when the policy is sold. For a life settlement involving the sale of a Universal Life or Whole Life policy, we receive a percentage of the final settlement price (the price paid by the buyer to the seller).
For a life settlement involving a Convertible Term Life policy, our compensation comes from the final settlement amount or from the standard agent commission paid by the insurance carrier for the conversion.
Typically the Life Settlement process takes 90-120 days depending on the complexity of the case. Simple transactions can be completed in less time.
Life insurance policyholders who qualify for a life settlement or viatical settlement have a difficult choice to make. One choice leads to a ‘direct buyer’(DB) who would be purchasing the policy for their own portfolio. …Read More