Life is the most unpredictable thing that any living being owns and maybe this is the reason why it is the most precious as well. We spend all our energy, resources and efforts in ensuring that the lives of our loved ones is always comfortable and they are always in good health for as long as they live. In order to avoid every kind of risk we visit doctors, eat good food, exercise and try and find ways of entertainment to keep us happy. We also go that extra step and insure our lives in case of any calamity that may fall on us. Life insurance has thus come up to be a very crucial part of our lives and people insure their lives for large sums of money to ensure that their family has financial security even after the individual has expired.

Qualified life settlement is another added step on the lines of life insurance. The qualified life settlement is an option to the high net worth life insurance policy owners who are sixty five years of age or higher. The process allows a senior citizen to sell off an unwanted life insurance to a third party who offers more than the cash value which the insured would otherwise get from the life insurance company. This works as a win - win situation for all involved. The life insurance policy holder goes in for a qualified life settlement as he can have access to a lump sum of cash whenever the need arises instead of having to wait for the policy to mature. The insurer can also opt for regular monthly installments instead of going in for the whole amount at once. The buyer of the policy then gets the claims to that policy.

Life settlement advice is generally offered by financial advisors like accountants and attorneys to the individuals holding a high net worth life insurance policy. The qualified life settlement investors are known as financing entities because they deal with the purchase of a life insurance policy. The investors may purchase the policy with their own capital or through the capital which they raise through other investors and various different structures. Individuals do not usually go in for qualified life settlement investments because of the risks associated with such a transaction. Hence the normal procedure is to deal with a life settlement investment through investors who are a part of an organized and credible institutional buyer group.

The basic steps that are involved in a qualified life settlement transaction are the initial consultation of a policy owner with his financial advisor. The decision is then taken whether a broker should be approached or should the deal be made directly with the providers. The owner of the policy has to release his medical information and along with the advisor he submits the policy for valuation. The offers that come in on the basis of this are reviewed by the client and his advisor and the best one is accepted. The providers are given the essential documents, the paperwork is verified and the funds are transferred to the client. This in its totality completes the whole process of a life settlement transaction.

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