Are you thinking about selling your life insurance policy for face value? Perhaps you are ill, and your dependents no longer need the financial cushion that your policy’s death benefit would provide. Maybe you need a cash payment to offset a medical bill? Or perhaps you can no longer afford the premium payments.
A viatical settlement company comes in handy when you have a life insurance policy that you no longer need. They walk you through the whole process of getting a viatical settlement right from beginning to end. Finding the best life settlement provider for your life insurance policy can take time, and is often overwhelming. But it also cuts down on your work if you work with the best and experienced viatical settlement companies. Make sure whichever company you choose is registered with the Life Insurance Settlement Association (LISA), to ensure that they are reputable.
There are a lot of life settlement brokers competing for your business, so how do you know which one is the best? Let’s go over what makes an excellent life settlement company that will get you the best settlement option for your life insurance policypayout.
When considering a viatical settlement, you will need to decide who to pick. Certain guiding factors will help you pick one viatical life settlement provider over another. When trying to exchange a death benefit for the face value or cash surrender valuepayout, you want to get the best possible deal and at the same time have a smooth and fast process. So you want to consider the life settlement company you choose to engage with carefully. Here are a few factors that make a great viatical settlement provider.
A good viatical settlement company will do everything possible to get the best payout to the policy owner as quickly as possible. The speed of the life settlement process is improved by cutting out some of the unnecessary procedures, processing some of the work online, and giving you information about your life insurance policy in good time. The best life settlement companies already have the process streamlined for you to get you a lump sumcash payment in the shortest possible time.
Top settlement providers take time to put options on the table that best serve the policyholder. There are many factors that can impact the cash surrender value of your life insurance policy. The policy type, the policy’s death benefit, the insurance premiums, and the health of the policyholder will all impact the value of your policy. Since they are very familiar with all of the factors involved in the sale of a life insurance policy, the life settlement broker can quickly access accurate real-time information to give you the best offer.
Nothing is as wrong as rushing to propose a solution without first fully understanding your position and carefully evaluating your available options. The best life settlement providers do precisely that for you. Your life settlement broker should take an interest in your health, your circumstances, and your reasons for needing to sell your life insurance policy. Knowing your situation will help them propose what arrangement will best serve you, and put your mind at ease that they care about your wellbeing.
Most people have no idea how life settlements work, and you may encounter situations or paperwork that needs clarifications before you proceed with signing away your life insurance policy. A top settlement provider will be more than willing to walk you through the life settlement process and answer your questions when you raise them.
Disclosure is often another area of concern. You may want to know more about any commissions or taxes that will affect your payout in good time to avoid surprises along the way. The best brokerage will equip you with all this information to help you make a good decision in a reasonable time.
The coverage offered by viatical life settlement companies is not necessarily uniformly distributed in all states, or for all companies. Some life settlement brokers are present in some states while others are not. First, you may want to verify that they will effectively reach you without too much movement before opting in with a given viatical settlement provider.
Based on these critical factors, here are the best life settlement providers for your life insurance policyviatical settlement.
Different people have different priorities when considering the best life settlement company. With this in mind, the following will guide you to help make the best decision for your case. Here are the best viatical settlement companies for your needs.
When you consider the broad options available for a viatical settlement provider, seeking a helping hand from experts such as Uplife is a great idea. If you have concerns about your life expectancy or questions about long-term care options, they are experts at guiding you through the process. They are equipped to offer advice and fast facilitate the process while providing you deeper insights and options you may not have previously considered.
Magna is reputable for its broad coverage and long-term experience. Magna is one of the most expansively viatical settlement providers in the US, with a footprint in every state. It has a team of experts to walk you through the options you have for asettlement. It also has a highly sophisticated and effective fraud detection process to ensure your transaction is safe from future challenges. Their payment calculator gives you a timely estimated payment from your policy.
Abacus life is a life settlement provider that prides itself as a premium life settlement broker with a proven track record. Abacus rates well with their fast viatical process and customer care, which leads to more substantial customer ratings. Abacus is licensed to operate in well over 40 states, including Florida.
Harbour life works with brokers to deliver viatical settlements to customers. They are experienced in the field and have established multiple partnerships with life settlement providers. Working with Harbor Life gives you the benefit of someone else shopping around for you to get the best value for your viatical settlement. They are present in 50 states.
Windsor Life Settlements is another top viatical life settlement provider with extensive tools and information about their settlement procedures. They have comprehensive details on the viatical settlement, including why you need to think about the best settlement option before you jump in.
A. While there are many factors involved in calculating the cash value of your policy, as a base rate, you can look to get about 20% to 50% of your life insurance policy’s death benefit.
A. Put simply, the cash surrender value is the amount you get if you surrender all claims to your life insurance policy coverage. The cash value of your policy is the amount you can get and still have some life insurance coverage.
A. In order to receive a viatical settlement, you will need to provide medical records to prove that you are terminally ill. These medical records are kept completely private and will not be shared with any outside parties.
A. There are many online calculators available for you. If you want to calculate the value of your policy, you can use our user friendly life settlement calculator.