For each policy you would like to submit for review, please have the following documents prepared and executed by the insured and policy owner:

  • A Life Settlement Application - Also known as a viatical settlement application, this form includes personal, life insurance, medical, and policy information release forms.

  • HIPAA Authorization - Must be signed by the insured - it allows us to review all medical information as it pertains to your policy.

  • Life Insurance Policy Information Release - Must be signed by the policy owner(s).

  • Medical Records/APS - The insured(s) complete medical records from all doctors and health care facilities within the past five (5) years must be included.

  • In-Force Illustration - The illustration must be obtained from the issuing insurance company - to get the fastest service you may want to contact your life insurace agent. The illustration should be run with "level premiums such that the policy values are equal to zero" at the policy maturity date.

Once the policy has been received with all of the required information, the life settlement process continues as follows:

  • Policy Verification
         - Insurance company must be rated B+ or better by Moody's, S&P, and A.M. Best.
         - Policy must be past the contestability period.
         - Policy must allow for absolute assignment of ownership and/or irrevocable right to
           designate beneficiaries.

  • Purchase Procedure
         - Completion of purchase agreement.
         - Deposit of settlement amount in escrow account until closing.

  • Closing
         - On a case by case basis, we may need to contact current beneficiaries, get signed
           consent waiving or releasing beneficiaries' rights.

         - Policy is transferred to purchaser.
         - Purchaser is recorded as a beneficiary using a standard change of beneficiary form
           provided by the insurance company.

         - Escrow agent pays seller.
         - Purchaser receives a copy of the transfer of ownership form and reassignment of
           beneficiary form.

When the transaction is complete, the buyer becomes the new owner of the life insurance policy, pays future premiums, and collects the death benefit when the insured dies. The proceeds of the sale can be used in any manner the seller sees fit.

If you would like to submit a policy to a company licensed to purchase policies in Massachusetts, click here.


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