Life Settlement Process
Unlike most life insurance companies, life settlement Funders do not require the insured take medical examinations. However, life settlement funders require the settlement broker submit five years of the insured's medical records, The retrieval of these records are of no cost to the insured.
Typically it will take six to eight weeks to receive a life settlement bid. The settlement company reviews the insured's medical records for the past three to five years to determine a life expectancy.
When the life settlement policy owner accepts an offer, the settlement funder forwards a closing package. The closing package includes a contract detailing the life settlement transaction. Upon return of the life settlement contract the settlement funder moves the awarded money into escrow, and submits paperwork to the insurance company requesting change of ownership and beneficiary. A bank wire of settlement funds will be deposited within three days of beneficiary change. RTG Consultants includes a "Fifteen-Day Rescission" clause. if the life settlement insurance policy owner sends back all the money within fifteen days, the life settlement transaction will be voided and original policy returned. on Day Sixteen the viatical settlement transaction is complete.
Call 1.888.973.8377 to speak with one our life settlement brokers about our life settlement services and free appraisal.
Get your free life settlement quote and appraisal
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