If you have a life insurance policy that you no longer believe holds any tangible value for you in the long run, you don’t have to keep up with payments for the sake of it – there are a number of avenues for you to explore that could make certain that you’re extracting real value from your policy. One such possibility is a simplified settlement, a type of life settlement that gives you the result that you’re looking for without having to wait for months on end. At Sell Your Life Settlement, we’ve handled simplified settlements hundreds of times in the past, so we’re confident that we can manage what you’re looking to carry out in a swift and effortless fashion – after all, the clue is in the name ‘simplified settlements’. Below, you can learn further insights into what simplified settlements are, and why they’re such an incredible option for policy holders.
What are Simplified Settlements?
So, what exactly are simplified settlements? While a life settlement transaction is an agreement to purchase a life insurance policy and cover the premiums – giving the policy holder an immediate payout in return – a simplified settlement is pretty much the same thing, but with a more straightforward underwriting process. What’s the advantage of this, then? It’s simple: a simplified settlement process being less complicated means that you’re going to receive your settlement payment even sooner. Considering many people don’t want the hassle of dealing with financial matters, this obviously represents a significant benefit to a big group of people.
Defining Your Eligibility
It’s important to note that there are some minor differences in eligibility between a general life settlement transaction and a simplified settlement. Although it’s pretty much the same, a simplified settlement requires the policy holder to retain a policy which has a value of between $100,000 and $500,000. There’s a little more flexibility in that regard with life settlement agreements. If you’re not sure about your eligibility for a simplified settlement, our customer service team can clear that up for you.
Lightning Quick Turnaround
At Sell Your Life Settlement, we’re concerned with making sure the life settlement experience you get with us is stress-free at all times. We understand that these types of matters are not enjoyable for many people, and contemplating your own passing is one of the last things you’ll want to be doing. With a simplified settlement, these processes are that much quicker, with transactions typically closing in under 30 days from the date we received the required documentation. No waiting around, just the outcome that you want.
Some people we’ve served in the past have been concerned that the simplified settlements that they’re going to receive will not be as comprehensive in the benefits as a general life settlement transaction, but that’s not the case – you can expect to receive exactly the same advantages as with a life settlement, just quicker. All that matters is whether or not you qualify for this type of settlement, since not everybody is eligible.