Life Settlements-The Process

Once the insured party determines that a life settlement vehicle is of interest, the process begins with the prospective seller/policy owner filling out some simple paperwork to begin a free, no-obligation appraisal of the policy. These are the typical steps to facilitate the transaction.

What Is Required For A Policy Appraisal?

The process is simple and basic. Typically, an application and a release form are all that are needed. Usually, there are no physical exams, tests or application fees. If the policy is deemed to be suitable for a Life Settlement placement, some additional information will be required. We will need a copy of the life insurance policy and have the owner/insured agree to allow us to have access to their medical records. Our "due diligence" requires that we evaluate the insured to determine the cash value of your policy. This is typically a straightforward process. All of the above information included with the application/release will significantly hasten the process. Most evaluations require 4-8 weeks, albeit there are times when it may take longer to obtain all the necessary paperwork.

The owner/insured submits to the Peachtree Life Settlements the necessary paperwork, including a copy of the life insurance policy, an filled out application, an annual schedule of policy details, an authorization form, the insured’s medical records for the past two years, and a copy of any trust or other agreement, if applicable.. A medical exam is not usually required. If we extend an offer to buy the policy and the owner/insured accepts, a closing occurs where all requisite documents are signed. The funds are deposited in an escrow account, awaiting a change of beneficiary and ownership recording. When the policy transfer is legally approved, the escrowed funds are wired to the insured/owner, or other funds transfer finalized, and the Life Insurance Settlement as been accomplished.

Peachtree Life Settlements provides varied payment structure flexibility to meet seller’s requirements. Typical payment methods include lump sum or installments (to defer taxes). We will provide escrow facilities and transfer the funds in any form the owner/insured deems suitable.

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