About Us Services Cases Information Agents Table

Our Services

Initial Review

Does your client qualify for a life settlement? Not everyone qualifies for a life settlement policy, although some in the settlement industry will claim that everyone over age 65 will qualify. That's hardly the truth; seniors over 65 and 70 might qualify for settlements, depending on their medical condition, gander, premium outlay, and policy structure.

Another crucial question is does your client have realistic expectations? When was the last time you worked hard on a difficult settlement case to get a good offer, only to be turned down by your client saying that we were expecting at least 35 % of face?

We know your time is valuable and you don't want to waste any time or energy on cases you don't have any chance of closing. Therefore our first step when we get a case is to have our team do an INITIAL REVIEW on all circumstances around the case, so we all know that this case will end successfully.

Order medical & hospital records

When starting the case, it is very important to get the updated and complete medical records with the most accurate life expectancy. If medical records are outdated some of the LE companies and some funders would not be willing to look on the file.

However, getting all medical records in a timely manner is not that easy, especially if the client was in the hospital in recent years. Since we know that getting things done quickly is what agents are expecting from us, we have one of our staff follow up with the doctors and hospitals to make sure there is no delay. Payments are sent overnight, and by most of our clients we have all records within 10 business days after receiving the HIPPA forms signed.

Getting illustration

An Inforce policy illustration will be needed in every case that will go to settlement; the Inforce illustration will show the buying funder the cost of the future premiums, in order to keep the policy in force.
Although almost all of the funders will need a level of Inforce illustration until policy maturity, some funders have specific type of illustration they want to see, like a 10 yr illustration or LE + 2 illustration etc., getting  all these illustration to the funder will help the funder be more aggressive  with their offer.
We will work with our funders to see if there is a different type of illustration that can help them price the case better.

Order life expectencies

A life expectancy is issued based on the medical records of the insured, which is reviewed by a medical expert combined with an actuarial mortality table based on the age of the insured.

Based on a 2006 study of life policy dynamics (link) there were 4 major life expectancy providers: 21st, AVS, EMSI, FASSANO, with 21st being the most common followed by EMSI, AVS, & FASSANO. In the same study they found that 21st will usually come in shorter then the other LE providers, however, most funders will want to see 2 or even 3 life expectancies in order to price a case. We will usually order all life expectancies needed.

Expert review

We have a team of medical underwriters and actuaries that look over all relevant information that could affect the value of a policy, medical records, life expectancies, and cost of insurance, to make sure that the information that will be used to determine the offer for the policy is indeed correct.

We have recently had 3 separate examples where our expert review has helped the policy owner get a substantial higher offer. After getting back the life expectancy results and comparing them to the medical records they have realized that the life expectancy is not accurately reflecting the insured's state of health. We went back to the life expectancy issuer and asked them if they can have their chief medical team look in on the case again. In all 3 occasions the chief medical team has agreed that the life expectancy is actually shorter then originally stated; in one case the life expectancy dropped more then 2 years making the policy much more attractive to funders.

Working with funders

Before we start working with any life settlements provider, we will do the research to make sure the provider has institutional funding behind them, they are licensed in the states, do business that require licensing and the provider is working in an efficient and professional manner.

Once we have all the necessary information on a life settlement case (medical records, life expectancy, illustration, internal review), we will send out the case to all of our funding sources. Then one of our staff will follow up with the life settlement provider to make sure they have received the case and if they have everything they need to consider the case.

Next is the auction process, one that is very important in getting the best possible offer for the client. The process works as follows: Once the case has been sent out to the funders it takes a period of time, usually between 1-4 weeks for the funder to review all the information and come back with an offer. Some of the offers will be very low and will not be considered, but some will be close to the fair market value of the policy. Then we will go back to those funders and see if they will able to beat their competitors offer; that bidding process will usually produce the desired results and get the best offer for the client.

Closing the case

Once we have the highest offer and we have confirmed with the policy owner that he is ready to move forward, we will order the closing documents which need to be signed and notarized by the policy owner and the insured. Besides that, every funder has a list of closing requirements which need to be submitted together with the closing documents (examples are W9 form, original policy, photo IDs, physician letter, spouse letter.)

We will work with the agent and the policy owner and explain them exactly what the requirements are so we can have everything needed for a quick closing. Once we have all closing requirements we will overnight it to the funder and follow up with them that they have everything needed.

The final stage will be change of ownership. The change forms will be sent out by the settlement funder (usually through an escrow) to the life insurance carrier. We will follow up with the life insurance carrier to ensure the changes are processed in a timely manner. Once there is confirmation that the changes went through, the policy owner will receive the money either by a check or a wire transfer.


244 5th Avenue Suite #2450
New York, NY 10001
T. 212.710.5608