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Life Settlement Providers: What You Need To Know?
What are Life Settlement Providers?
Life settlement providers are the financial institutions actually buying life insurance policies on the secondary market. At Amrita Financial we work with you to solicit blind bids from life settlement providers on your life policy. Blind bidding ensures that they can not see what other companies are bidding and allows you to choose the policy offer that best fits your needs.
What are Life Settlement Brokers?
Life settlement brokers work to find and negotiate the most advantageous life settlement offer for a policy owner. Life settlement brokers have a fiduciary responsibility to life insurance policy owners to work on their behalf for the best life settlement offer.
Is Amrita Financial a Life Settlement Broker?
No. Amrita Financial is not a life settlement broker. We are not a fiduciary to the party selling a life insurance policy. We provide an electronic platform that allows people to solicit bids from life settlement providers and sell their life insurance policy themselves.
What is a Viatical Life Settlement?
Individuals faced with a terminal illness often choose to sell their life insurance policies in order to pay for medical care and living expenses and to obtain a source of revenue. A viatical life settlement involves the purchase of a terminally ill person's life insurance policy by a viatical life settlement provider.
How are Life Settlements Different from Viatical Settlements?
While the two terms are often used interchangeably, life settlements and viatical settlements actually describe two similar, but different, types of life insurance policy transactions. While life settlements is a generic term used to describe the sale of a life insurance policy to a third party, viatical settlements are specifically the sale of a terminally ill person's life insurance policy to a third party viatical settlement provider for a percentage of the total value of the policy.
How Can I Find Out More?
Contact us at Amrita Financial today. We can help to make the process of selling your life insurance policy as quick and easy as possible. Call (888) 539-8885 or fill out our online form for a quick, no obligation free consultation.