The process
From your first appraisal to records, offers and payment.
Do I need a lawyer to complete a life settlement?
You do not need a lawyer to complete a life settlement, although some sellers choose to consult one for additional guidance or peace of mind. In most cases, the process is straightforward, and licensed life settlement providers, brokers, or marketplaces handle the administrative steps, documentation, and coordination with buyers.
How do buyers evaluate my medical records and policy details?
Buyers evaluate life insurance policies using actuarial models and financial analysis designed to estimate how long the policy may remain active and how much it will cost to maintain over time. The goal of this evaluation is to determine the investment value of the policy based on expected premiums and the future death benefit.
How do I start the life settlement process?
Starting the life settlement process is simple and usually begins with a quick estimate to see whether your policy may qualify. Most people start by sharing a few basic details with Settle, such as their age, the insurance company, the policy type, and the coverage amount.
How long does the process usually take from application to closing?
A completed sale typically takes 60–90 days from application to payment. We move as quickly as possible, but records, buyer reviews and the transfer affect timing.
Is the buyer legally responsible for future premium payments?
Yes. Once a life settlement transaction closes, the buyer becomes the legal owner and beneficiary of the life insurance policy and is fully responsible for paying all future premium payments required to keep the policy active.
What documents are required to sell my life insurance policy?
Selling a life insurance policy requires some documentation, but the process is usually simpler than most people expect. In most cases, the main document needed is a copy of your policy or a recent policy statement showing details such as the coverage amount, policy number, and premium schedule.
What happens after I receive an offer on my policy?
After you receive an offer on your life insurance policy, you have time to review the details and decide whether the offer meets your financial goals. There is no obligation or pressure to accept.
What role does a broker or marketplace play in the process?
A life settlement broker or marketplace (like Settle) helps represent the policyholder and manage the process of selling a life insurance policy in the secondary market. Their role is to organize the transaction, connect the policy with qualified buyers, and help ensure the process is efficient, transparent, and compliant with state regulations.
