Viatical Settlement: Cash for Your Life Insurance Policy

FAQ's - Frequently Asked Questions

What is the fee?

There is no fee to review your life insurance policy's eligibility. The life settlement broker is paid by the insurance carrier.  The insurance policyholder has zero out of pocket expenses.

Do I have to take a medical exam?

No, you do not need to complete a medical exam to be eligible for a cash settlement. The life insurance carrier will review your life insurance policy and your medical history to determine if you will receive a cash settlement offer.

How does the appraisal process work?

1. Insured requests an appraisal application
2. After the appraisal application is returned, all additional information is gathered (copy of policy, policy illustration, doctor's release form) and sent to multiple funding organizations for evaluation.
3. Offers received from funding organizations and shared with insured/policy owner for approval.
4. After approval, paperwork sent to insured to transfer policy ownership.
5. All paperwork sent to funding organization and change of ownership form sent to insurance carrier to be recorded.
6. After insurance carrier confirms change of ownership, proceeds are wired to the policy owner's designated account.

How long does the process take to complete?

Usually you will receive an offer or a "no offer" in about 30 days. It truly depends on how fast your personal doctor provided the required medical history data. Once an offer is provided, and you accept the offer and complete the paperwork, it will take about six weeks on average to receive your cash payment.

What ages are eligible for a  viatical settlement?

You must be age 65 or over to apply for a cash settlement. 

What is the minimum face amount of life insurance eligible for a cash settlement?

Policy must have a death benefit of $100,000 or higher. 

Are all types of life insurance policies eligible for a cash settlement?

No. The life settlement insurance carrier will request a copy of your life insurance policy to determine if you are eligible for a cash settlement.

Yes, I'm Interested in Cash for My Life Insurance Policy