Questions To Ask Every Life Settlement Broker

A life settlement broker plays a very important role for individuals looking to sell a life insurance policy for cash. The broker works on behalf of the seller to assist and negotiate the sale of a life insurance policy. It is the broker’s responsibility to gather all information related to the life insurance policy, including the insured and policy owner information, premium and death benefit information, and most importantly, the insured’s health summary. The life settlement broker presents the policy on the behalf of the seller to a network of life settlement buyers, commonly referred to as life settlement providers. A qualified life settlement broker will present the policy to all buyers with the intention of creating demand and maximizing the life settlement offer. The result should always be to get the most cash possible for the seller.

It is important for every policy owner looking to sell their life insurance policy to have a list of important questions to ask a potential life settlement broker. It is also important to know that a life settlement broker works only for the seller, and should always work in the seller’s best interest. The life settlement broker should never work on behalf of the life settlement buyer as it poses a conflict of interest. The life settlement broker does work for a commission fee, but the fee is only paid if the policy sells. Never should a seller pay any upfront fees to a life settlement broker.

Questions To Ask Every Life Settlement Broker

• How much is my life insurance policy worth?
• Do you believe you can sell my life insurance policy?
• Are there any up front fees to sell my policy?
• How will you market my policy to maximize a life settlement offer?
• How long do you think it will take to sell my life insurance policy?
• Will you work in my best interest and not the life settlement buyer’s best interest?
• What is your commission fee, and is it negotiable?
• Can I expect you to share all life settlement offers with me?
• Will I be working directly with you, or with someone else in your company?
• Why should I work with your company instead of another life settlement broker?
• Why should I use a life settlement broker’s services instead of selling my policy directly to a life settlement company?
• Do I have other options instead of selling my life insurance policy?
• Will you be available to answer questions throughout the life settlement process?
• Once an offer is accepted, how do you assist me through the life settlement closing process?
• When and how do I get paid?
• What can I expect after my policy sells?

Deciding To Sell A Life Insurance Policy

A life settlement is an important decision that individuals consider when they are no longer able to pay premiums, or simply no longer need the insurance coverage. Selling a life insurance policy can help seniors, or terminally ill individuals, create additional income to help pay for care services or on-going cost of living expenses. Selling a life insurance policy is a simple process and with the help of a qualified life settlement broker, a seller can see a maximum cash offer. While sellers can always sell their policy on their own by working with a direct life settlement company such as Coventry, it is advised that they instead opt to use a life settlement broker’s services. A broker should have the seller’s best interest at hand, whereas a direct life settlement buyer is always working in their own best interest with the goal of buying the policy for the lowest possible price. A life settlement broker always has the goal of selling the policy at the highest possible price. A seller has the right to get the most cash possible for their life insurance policy and they should always use the best resources to do so.

Choosing the right life settlement broker is a very important part of the life settlement process. A seller should spend the time to ask the important questions and research the brokers they are considering. Not all life settlement brokers are equal and not all brokers are qualified to help a seller reach the goal of selling a policy for the most cash possible. All brokers have access to the same network of life settlement buyers, so it is often times the broker’s relationship with buyers, and their negotiating skills, that can be the difference in life settlement offers and how much a policy ultimately sells for. Sellers should use their judgement and go with a broker that best fits your needs and expectations.

To learn more about selling your life insurance policy you can reach Life Policy Solutions, a qualified life settlement broker, at 1-844-440-7355 or visit www.cashoutlifeinsurance.com

Learn more about “Who A Life Settlement Broker Represents” please visit this important article here

If considering selling your policy direct, you can review our list of the “Top Life Settlement Companies” here