At Equitas we’re constantly searching for and discovering new ways you can do more for your clients. One way is helping them get the most value out of a life insurance policy that is no longer needed. A life insurance policy is actually an asset the same way investment portfolios or real estate are assets. Today, there is a robust market of investors looking to purchase life insurance policies that are unneeded or under-performing.
Don’t surrender, lapse, or sell a policy until you talk to us. The surrender value of a policy only represents a small portion of what it may actually be worth. There is a secondary market available to help you identify the true value of your life insurance policy. For qualified candidates holding Universal, Whole Life, Term Life and even group insurance the secondary market can help policyholders recognize substantial value for their unneeded or under-performing policies.
Use the Life Settlements Worksheet to get started
Life Settlements FAQ’s
What is needed to start the policy review process?
The items necessary for a policy review are an in-force ledger (solving for level premium, level death benefit and $100 cash value at age 100), a signed HIPAA release, and the last 2-5 years of medical records. The agent or broker representing the Policy owner furnishes these items to Equitas Brokerage.
Life Settlement Process
1. A trusted advisor and a policyholder choose to seek a life settlement on an existing life insurance policy.
2. Trusted advisor enlists Equitas Brokerage to conduct a thorough evaluation of the life insurance policy to determine the likelihood of a successful life settlement.
3. If the policy is deemed a good settlement candidate, Equitas Brokerage obtains the insured’s medical records and orders Life Expectancy reports.
4. Equitas Brokerage prepares all documentation, packages the case, and markets it to the qualified, institutionally backed settlement companies/buyers for consideration.
5. Offers are conveyed to Equitas Brokerage who negotiates the best offer and terms.
6. Offers are communicated to the broker and discussed with the policyholder for consideration.
7. When an offer is accepted, the case goes into the closing phase.
8. Upon completion of the closing documents, the owner and beneficiary designations are transferred to the buyer.
9. Upon confirmation of the transfer, the escrow agent releases the sale proceeds to the seller.