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Life
Settlements at a Glance
- Life or a Viatical Settlement allows an
individual to sell a life
insurance policy for cash.
- Almost any policy--of any size--can be
sold. After the sale, the company buying the policy is responsible for making all future premium payments to keep
the policy in force.
- The application process is simple and
non-threatening and requires only completion of an application form.
- The amount of money received from the
sale of a life insurance policy is determined by several factors
including premium obligation and projected life expectancy.
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| The
Underwriting Stage |
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| Applicant contacts VSPI
for application |
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Applicantion packet sent to applicant |
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Applicantion, disclosure, and release to VSPI |
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VSPI obtains
medical records and insurance verification |
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Underwriting process is completed |
| The
Offer Stage |
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| VSPI submits
proposal |
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Closing package completed; funds escrowed in
bank |
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Change recorded in beneficiary and ownership |
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Money wired or sent overnight to applicant |
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Applicant's right to decline offer |
| The
VSPI Process |
| The process of selling a life insurance
policy through our organization--"viaticating" as it is known
technically--is simple and non-threatening. And rest assured, we treat
individuals and their families with the dignity, compassion and privacy
they deserve.
Qualification
The process is available to:
A. Insured age 65 and older with policies of $250,000 or more; and
B. Insured of any age who have been diagnosed with a life-threatening illness.
Applying
There are no invasive interviews or lengthy questionnaires, just a
simple form. With the applicant's permission, our professional staff
then gathers medical records for review by physicians and insurance
underwriters. Each case is evaluated within days of the application's
completion.
Evaluation
The amount paid for an applicant's policy is determined by several
factors, including prevailing interest rates, premium obligations, and
projected life expectancy.
Distribution
All funds are transferred directly to our clients by wire transfer or
overnight delivery. |
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