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Life Settlements and Viaticals Finding Investors Who Bid
PRWEB
Life settlements and viaticals are now finding investors who will bid and bring the highest return to people who are looking to cash out on their life insurance.
Green Bay, WI (PRWEB) January 5, 2005 -- Although life settlements and viaticals have been around for a few years enabling people to cash out their life insurance and get much higher returns than the cash surrender value of their policies, there are a growing number of investors who will now bid on the settlement amount.
It used to be that if a senior citizen or person with a terminal illness wanted to use the equity they had built up in their life insurance policy to pay current expenses, they had to take whatever the issuer of the policy stated was the cash surrender value.
Beginning in the 1980's, viaticals starting gaining popularity. According to a recent article published on Kiplinger.com, "Life settlements are an offshoot of viatical settlements, which were created in the 1980s to buy life-insurance policies from terminally ill AIDS patients."
The Kiplinger article continues to report, "Unlike viaticals, life settlements involve policyholders with life expectancies of up to 12 years."
According to the Life Settlement and Viatical Association of America's Website, "The value of a life insurance policy is determined by a number of factors, including, but not limited to, the age and medical condition of the insured, type of insurance policy, rating of the issuing insurance company and amount of premium payments to keep the life insurance policy in force."
Now investors and other settlement brokers have added another factor to this valuation. Bidding on the settlement amount. This bidding can be arranged by an individual who is looking to benefit from a life settlement by contacting the various firms who invest in them, or using the Internet to consolidate their efforts by visiting a website such as http://www.lifeinsuranceforlife.com.
LIFL or www.lifeinsuranceforlife.com provides the viator (person who is looking to sell their life insurance policy) with a simple to use and easy way to put their policy up for bids among up to twenty different investment firms and brokers who invest in these life settlements.
Although the entire process can take up to three months per policy with any broker, LIFL has a streamlined process that permits the insured or his agent to submit the policy for consideration to as many as twenty different investors and then receive offers with just one completely confidential application process. This allows the viator to determine who will the pay the most for their policy with a single application and eliminates any need for the insured or his agent to shop the policy around.
LIFL maintains relationships with companies who have settled over 1 Billion dollars worth of policies for their clients and have established an excellent reputation for confidentiality, privacy, and professionalism. According to the LIFL website, a person only need submit one application to receive bids from up to 22 different firms all screened and licensed to provide life settlement services.
When a person deals with LIFL, their only responsibilities are to provide a completed Appraisal Request Form and Authorization Form and LIFL does all the rest. LIFL will accept applications online, or through more traditional methods and their services are always completely free and without obligation.
Once these forms are completed, the bidding process begins as LIFL submits the information confidentially to its proprietary list of Licensed and Registered Investment Firms and Individuals. And the viator receives the opportunity to select from among as many as 20 different offers.
For more information on Life Settlements and viaticals or to contact LIFL directly, please visit http://www.lifeinsuranceforlife.com.
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