When a universal life insurance policy is no longer needed or the premiums are no longer justifiable, policy owners can sell their universal life insurance through a life settlement.

One of the most important considerations is the existing Cash Surrender Value (CSV) in the policy. This is the amount the life insurance carrier would provide if the policy was surrendered (lapsed) back to the carrier. Through a life settlement, the amount received must always exceed the amount of Cash Surrender Value in the policy.

Through the life settlement process, one of the underwriting requirements that requested is in-force illustrations from the insurance carrier. Rapid Life Settlements will handle this directly with the carrier or may include the policy owner on a three-way call in order to expedite the process. Depending on the unique policy specifics, we will know what illustrations to ask for in order to provide the necessary information to maximize offers.

Universal Life Policies are highly valuable, and are very attractive to buyers. Considering all the options and determining the best course of action is something the team at Rapid Life Settlements specializes at helping uncover.