Sentences with phrase «life settlement broker»

There are life settlement brokers who will «shop around» your policy to get you the best offer.

In addition, most states require that consumers are provided with information about alternatives to settlements, risks related to taxation and government assistance, and the licensing of life settlement brokers and providers.

Although most providers try to acquire life insurance policies through life settlement brokers and life insurance producers, lately, an increasing number of them are directly marketing to consumers.

The current landscape of traditional life settlement brokers is a fragmented market of small brokerages.

Life settlement brokers provide an important function of guiding a policy owner through the sales process, including assembling the needed information to complete the sale.

A legitimate life settlement broker would help you assess the right option for you.

There are life settlement brokers which facilitate a life settlement transaction of the policies between the seller of a policy and a buyer, and life settlement providers are companies that buy policies (via a broker or directly from the policyowner), either to hold themselves, resell to an institutional investor that buys life settlement investments, or even engage in a life settlements securitization process to repackage across multiple institutions investing in life settlements.

Often, these investors — who are typically life settlement brokers or life settlement providers — will purchase a policy for far more than what can be received by simply surrendering or cashing out the policy.

Life settlement brokers arrange for someone else to buy your policy and pay you cash.

Reputable life settlement brokers will keep your personal information as a confidential portfolio asset.

Existing laws and regulations that address life settlements include many requirements, including informational disclosures that owners and insureds must receive before a life settlement can be completed as well as licensing of life settlement brokers and life settlement providers (the policy buyers).

The process begins by contacting a life settlement broker.

You will be asked to fill out a questionnaire when you contact a life settlement broker.

You can do this on your own or use a life settlement broker to find offers to purchase your policy.

However, this is a complex transaction and you should engage with a life settlement broker to help you analyze this option.

Make sure your client understands the privacy implications of releasing medical records and insurance information to the life settlement broker.

The advisor and the client will usually have 30 days to consider the offers, and if the client accepts an offer, the life settlement broker communicates the offer's acceptance to the appropriate life settlement provider.

Transparency and Accountability — Use your best judgement to make sure that your life settlement broker will do the best job possible for your client.

If the broker is not licensed in the appropriate state, then that life settlement company may have to contract out to another life settlement broker who is licensed.

There are several key considerations when selecting a life settlements broker to partner with you and your clients pursue a life settlement transaction.

Make sure to ask for more information on this if you're obtaining a quote or doing due diligence on a life settlements broker.

Privacy — Make sure that the life settlement broker protects your client's information and only sends your client's files to only the parties necessary to produce offers — usually only life settlement providers and life expectancy underwriters (discussed in the life expectancy section).

To further protect yourself and your loved ones considering a life settlement, make sure the life settlement broker, life settlement provider and any insurance agent is properly licensed in New York.

A life settlement is often facilitated through a life settlement broker who represents the policy owner and owes a fiduciary duty to the owner, including a duty to act according to the owner's instructions and in the best interests of the policyowner.

You can do this on your own or use a life settlement broker to find offers to purchase your policy.

Life settlement providers purchase policies either through a life settlement broker or directly from consumer clients for either their own account or on behalf of an investment firm.

It's better to find a life settlement broker through your financial advisor or insurance agent, who might even be licensed to do life settlements.

Member firms are qualified in all areas of the life settlement industry; however, to start the sales process of your policy you need to work with a licensed life settlement broker or provider.

You'll provide details of your life insurance policy, along with medical records, to either a life settlement broker or provider.

A life settlement broker can shop your policy around.

It is always recommended to speak with your insurance agent, professional advisor or a life settlement broker or provider before beginning the life settlement process, especially if your policy is approaching lapsation or a premium payment is quickly forthcoming.

The commissions paid by life settlement companies to life settlement brokers and other financial professionals involved in the transaction can be substantial.

It is important that policy owners discuss with their life settlement broker or life settlement provider all the required disclosures applicable to their state law.

Life settlement broker must also disclose to the owner a full and complete description of all offers, counter-offers, acceptances and rejections relating to the settlement contract.

Most policy owners solicit the assistance of a life settlement broker when attempting to sell their policies.

Life settlement brokers contact life settlement companies to let them know that a policy is available for purchase.

But with proper due diligence performed on the life settlement broker, the life settlement company and any other entity involved in the transaction, an individual should be able to allay all of these fears.