Jan
10
1. Senior citizen with financial needs consults with an advisor, decides to sell his or her policy.
2. Client & advisor select a broker who works with institutional providers.
3. Broker submits case (and client releases medical information) to various providers.
4. If policy meets criteria for a life settlement, providers send offers to the broker.
5. Client accepts their preferred offer.
6. Client and advisor complete the provider’s closing package, and return essential documents.
7. Provider places cash payment in escrow and submits change of ownership forms to the insurance carrier.
8. Paperwork is verified and funds are transferred to the policy seller.