One of the first steps is determining if life settlement is a valid opportunity given your unique eligibility. The typical candidate for life settlement is an insured over the age of 65, with a life insurance policy over $100,000, and who's health has declined since the original issuance of the life insurance policy. The two factors that determine pricing are insured health and policy values / future premiums. While these are the standard guidelines for eligibility, every situation is unique.

What Are Clearer Eligibility Guidelines?

It is not uncommon to find policy owners with a policy that is outside of the standard guidelines yet still could receive offers. These scenarios typically involve an insured with significant health impairments or policies with extremely low premiums (or no further premiums required at all).

When trying to determine the unique eligibility of a policy, it is important to make a thorough examination of all health and policy details. In general the more medical records and health information available on an insured, the better chances are we determine eligibility correctly. Therefor, it is extremely important that a complete list of all doctors is provided during the application process so best efforts can be made to verify eligibility.

Eligibility Beyond Health And Policy

Understanding WHY a policy owner might want to sell their existing life insurance policy is important. Considering alternatives and keeping the policy is a significant part of determining a policy owners personal eligibility. If alternatives to a life settlement are considered and decision is still to pursue a life settlement, it is then important to go through the application process.

Can We Determine Eligibility Without An Application

Without going through a formal application and obtaining all the required documents to make an informed eligibility analysis, we can never be sure. However, Rapid Life Settlements does have a Health Questionnaire that can be completed, along with a phone interview, to provide a much more accurate and experienced opinion about the unique eligibility of a policy.

Stephen Jass is the Co-Founder and CEO at Rapid Life Settlements. He has spent years in the life insurance and life settlement industries and is now determined to make the life settlement process as fast, easy and simple as possible.