Abacus insurance underwriters1/17/2024 ![]() We looked into each company's reputation, customer guidance, and nationwide licensing. To craft our list, we started with the top 15 life settlement options. The problem is, it can be tough to distinguish one company from the next. If you need cash and have thought about selling your life insurance, you may be curious about life settlement companies-and whether they may be right for you. Most states also have strict disclosure rules and anti-fraud guidelines. States tend to have a waiting period before you can sell a policy as well. Life settlement regulation happens at the state level, with 43 states and Puerto Rico offering protection. This created a secondary market for selling life insurance policies-providing folks with cash. When the AIDS epidemic swept the country in the 1980s, many terminal patients needed money for treatment. A Supreme Court case in 1911 ruled that life insurance is an asset, and like other assets, it can be assigned for value. Like the other providers, there isn’t a brokerage fee for policy sellers. To determine your payout, Q Capital considers your age, medical condition, type of insurance policy, rating of your insurance company, and premiums. The company will accept most types of life insurance but says universal life, survivorship, whole life, convertible term, indexed life, and variable life are most common. ![]() You must be at least 60 years old to qualify, with a life expectancy between two and 15 years, and death benefit of $100,000 to $10,000,000. ![]() The company has in-depth confidentiality, security, and anti-fraud protocols, but still manages to complete sales in four weeks or less. You can learn more about the process through Q Capital’s website where it is laid out in detail. To start the process, you may get a quick quote through the company’s website. The company’s team boasts more than 50 years of experience in life insurance and life settlements-and leverages technology to stay ahead of the competition. Q Capital Strategies was founded in New York City in 2004. Abacus’ website says it typically pays six to eight times your policy’s cash surrender value. To determine your payout, Abacus considers your policy type, face value, age, and health status. Policies must have a death benefit of at least $100,000. Most life insurance policy types are accepted with the exception of standard term life, but convertible term is accepted. Money arrives in 21 days or less after accepting.Ībacus is looking for customers in their mid-to-late 70s or individuals with poor health. Formal offers are presented within 14 to 21 days. You also may accomplish the same thing by calling their team. You can start the life settlement process by completing Abacus’ one-step qualifier, which provides a fast quote through the company’s website. The company was named as one of the top life settlement providers of 2020 by The Deal. The company beats the competition for fast quotes and sales with artificial intelligence to expedite the underwriting process. Founded in 2004, the Orlando, Florida-based company is our top choice for speedy quotes and fast life settlements. Coventry doesn’t charge a brokerage fee to policyholders.Ībacus Life Settlements is one of the fastest-growing life settlement providers, with 18.5% growth over the past year. The exact payout depends on variables like your health, the type of insurance policy, the policy’s premiums, and more. To qualify, you must be at least 65 years old and your policy’s death benefit must be at least $100,000, and your life expectancy can’t be more than 20 years. Coventry offers a retained death benefit, allowing you to keep part of your policy’s payout after you stop paying premiums. The company also completes a background check to prevent fraud. You can start the life settlement process by submitting a questionnaire, authorization, insurance carrier illustrations, and your past five years of medical records. The Fort Washington, Pennsylvania-based company has a history of advocating for life settlement regulation. The company’s size, long-standing reputation, and industry accolades make it the best choice. ![]() Coventry conducted the first life settlement transaction and has become the industry’s biggest life settlement provider. ![]()
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