How to Avoid the Life Settlement Scam Artists Who Want to Take Your Money

How to Avoid the Life Settlement Scam Artists Who Want to Take Your Money

Seems like they are everywhere — the scam artists who are waiting for unsuspecting victims. Yes they are out there. Yes they want your money. Yes they will lie, cheat and steal your money. Here’s how to avoid them altogether.

Consult your team first
Your trusted advisors may have a stable of trusted associated standing by to help you with your settlement needs. Start your process there. As with any big-dollar transaction — always get a second opinion (and check references, and verify claims, and get everything in writing and review ever agreement with your attorney first).

Verify everything
Most states regulate the viatical and life settlement market and brokers are required to be registered (and in some states certified) to operate. Regulations vary by state, but you will most certainly want verify your broker’s status in your own state.

1. consult your Secretary of State’s office or Insurance Commissioner in your state (use google to find the web sites)
2. verify requirements for brokers & verify your broker is licensed to operate. Also find out if there may be consumer complaints about your broker.
3. contact the BBB
4. verify your broker is a member of the Viatical & Life Settlement Association.


If you don’t feel comfortable with this process, consult your team members — they may be in a position to investigate for you or help you verify your broker is above board.

Get everything in writing
Sharks rely on slick talk and false promises. Get every claim in writing. Verify all claims with your team.

Never sign a document
Until you completel satisfied your interests are protected (and your team has given a second opinion) — never sign anything. Period.

Don’t give out your personal information ever
Unless and until you’ve verified your broker is not a shark, don’t give your personal information. In particular your social security number or bank account information (even your policy number if you don’t know who you’re speaking with).

Never Pay An Upfrunt Appraisal Fee
Your life settlement appraisal should never cost you a penny. In particular, never pay an upfront fee. None of the established brokers or providers in the market charge policy holders for an appraisal.

Work with established Viatical & Life Settlement companies
RTG Consultants is here to assist you, we believe in honesty, credibility, and professionalism. Please call 1-888-973-8377 for a free policy evaluation and consultation.