Life Settlement Underwriting
The bottom line is life settlements equal more money than seniors� insurance company will give them, every time.
Underwriting begins after the broker receives the client�s medical records, a completed appraisal form, and a copy of the life insurance policy. Approximately two weeks after receiving this information the broker begins bid negotiation for seniors� policy*. Within that week, the broker will contact the client to present current offers. After an offer is accepted, seniors will be presented with a purchase contract and change forms to begin the closing process of their life settlement. The change forms are then submitted to the insurance company and then once the escrow firm receives confirmation of the transfer of their policy�s ownership, a check or wire transfer will be made within two business days**.
*The underwriting time table can vary depending on the responsiveness of seniors� life insurance company.
**The average transfer of policy ownership takes seven days depending on the responsiveness of seniors� life insurance company.
