FREQUENTLY ASKED QUESTIONS
What is a Life Settlement?
A Life Settlement is the sale of a life insurance policy of senior’s age 65 and older in return for a lump sum of cash that is greater than the current cash surrender value of their life insurance policy.
What types of life insurance qualify?
Most types of insurance policies qualify as long as they have been in existence for at least two years and must be assignable.
What size policies will be purchased?
Each funding company has different minimum and maximum policy size requirements. Generally, $100,000 of face value is the minimum and up to $50 Million face value is the maximum.
How much money will I receive for my policy?
Accelerated Life Settlements (ALS) has established relationships with all of the leading funding institutions. To find the true market value for your life insurance policy, ALS will acquire competitive bids from the various funders and present you with the highest price. The amount of money you receive is based on a variety of factors such as:
Am I obligated to accept the offer?
No. There is no obligation.
How long does it take to sell an insurance policy?
The average time is four to eight weeks depending on how long it takes to retrieve all the medical and insurance information needed, receive and present offers, get your approval and finalize the transaction.
What if I change my mind?
Every Life Settlement transaction has a 3, 10 or 15-day rescission period depending on the state requirement. This means after you have approved and signed the closing documents, you can change your mind and get the policy transferred back to you as long as it is within this time frame.
Any Fees?
No. You never pay any fees to ALS or any of its funding sources.
How does a Life Cash Settlement work?
1. Application is submitted to ALS
2. ALS obtains and processes pertinent documentation
3. Competitive bids are acquired by ALS
4. ALS offers highest bid to policy owner
5. Funds are released upon acceptance of agreement\offer
Who makes the premium payments after the policy is sold?The funding institution that purchased it will take all responsibility for making the premium payments. You will not make any more premium payments.
What are the tax implications?
There may be some federal and state taxes related to this transaction. We recommend you consult with your qualified tax advisor.
Why Should ALS be your Life Insurance Settlement Representative?
At ALS, Life Settlements are our only business. We represent you. Our team of professionals process and negotiate with multiple funding companies to insure you receive the highest possible lump sum cash settlement price for your policy.
We believe the policy owner is entitled to full disclosure by keeping them well informed and updated at every step of the Life Insurance Settlement process.
Contact us for a no cost, no obligation consultation regarding Life Settlements and how it pertains to your policy.
Accelerated Life Settlements, Inc. (ALS) is a licensed broker for Life Settlement transactions. ALS is not licensed in all states where licensing is required. If not licensed in your state, we have affiliate relationships with licensed organizations that can process and transact your life insurance settlement.
