Life Partners Life Settlements Explored
Life Partners, Inc. is the oldest and one of the largest life settlement companies in the United States. Since 1991, thousands of insurance consumers have turned to this organization when they want to sell a life insurance policy that no longer serve
Life Settlements
A life settlement is a transaction where a company like Life Partners facilitates the purchase of an insurance policy from an individual or legal entity.
There are a number of reasons why someone would give up a life insurance policy for a cash settlement. Keeping a policy in force might be too expensive, but allowing the policy to lapse would mean that the policy would no longer be in force and previously paid premiums would be kept by the insurance company. Life Partners helps policyholders reallocate their assets and walk away with cash to improve their lives.
From the point of sale, the premiums become the responsibility of the buyer. So not only does the original policyholder walk away with cash, but they also extinguish what could be a large monthly obligation.
Possible Uses of a Life Settlement
- Transform an illiquid asset into cash
- Eliminate debt and compensate for lost income
- Take a long desired vacation
- Gain personal independence and a higher quality of life
- Buy a new car, home or do renovations to your current home
- Donate to a beloved charity or treat loved ones to a special gift or occasion
- Have financial peace of mind with money in the bank
The Process
Selling an insurance policy is a very personal transaction, and should be handled through an experienced and professional life settlement company like Life Partners. Life Partners’ team of legal, financial and insurance experts will work closely with the policy owner and is ready to deliver quality customer service with compassion. The policy owner will be guided through the entire process at a pace comfortable to them.
Once it is determined that the policy qualifies for purchase, an offer is extended. A number of factors will be considered, including life expectancy, face value of the policy, future premiums, market conditions and if there are any loans on the policy. There are no application fees and there will never be pressure to sell a policy. Complete confidentiality is respected for everyone involved in the transaction.
If the offer for the policy is accepted, Life Partners will send written contracts and other transaction documents to be executed. Once the paperwork has been completed, ownership of the policy is transferred and a new beneficiary is named. After all required documentation is completed and acknowledged, the funds for the purchase will be released from an independent escrow agent within three business days.
The Company
Headquartered in Waco, Texas, Life Partners is a licensed life settlement provider, registered with the Texas Department of Insurance as well as several other state departments of insurance. Founded in 1991, Life Partners has diligently earned a reputation as a trusted leader in life settlements with honest, reliable and credible treatment of its customers and dealings throughout the life settlement industry.
Conclusion
For immediate assistance with the sale of a life insurance policy, contact Life Partners. With a two decade track record, Life Partners, Inc. has the experience, knowledge and industry relationships which make it the most reliable company of its kind.
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Life Partners- Contact Information
- Bob Lewis
- Manager
- S&P Publising
- Contact via E-mail
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