Go Life Settlement - FAQ


1. What is the minimum amount for an insurance policy?


2. What types of policies can be purchased?

Universal Life, Whole Life, Variable Universal Life, Term, and Convertible Term policies from US-based carriers are eligible. All policies must be beyond the contestability stage meaning it’s being in effect for over two years.

3. Does the entire policy need to be sold?

No, any part of a policy can be sold with the remaining death benefit being maintained in the name of the original beneficiary.

4. After the policy is sold, will premiums still need to be paid?

No, after the policy is sold, the client will no longer have to make premium payments.

5. Who are ideal candidates for selling their insurance policies?

The selling of their life insurance policies or life settlements are suited for individuals age 65 or over who are going through financial, health, and/or estate planning changes that have materialized in the latter years of their life. Usually, the client's situation has changed to the point where is little need to keep the insurance policy active. A business can also benefit especially when dealing with the nuances of a sale, a company closure, a key man or corporate owned policies.

6. Who are the buyers of life insurance policies?

The buyers tend to be companies specializing in life settlements or private investors. Before going with a buyer, it’s recommended to perform due diligence first. This means checking with your state attorney general’s office or insurance department for any complaints against the possible buyer. Go with a buyer who uses a reputable financial institution to hold the funds in escrow until the change in ownership is completed.

7. How do I get started?

To get started, fill out our free quote form. Once we assess the viability of the life settlement transaction, a potential buyer will be contacting you. During this process, the seller sends to the buyer the necessary paper work. This includes an application form, personal medical records of the last two years and insurance policy information. The buyer then makes an offer to purchase the policy and the seller accepts. The closing of the life settlement deal is done once all the documents are signed. The funds are deposited in an escrow account until the change of ownership and beneficiary is recorded. Once the policy transfer is official, the funds in escrow are wired to the insured. The goal of doing a life settlement transaction is to obtain a maximum sum that is greater than the cash surrender value or lapse value.

8. Are there any implications in selling your life insurance policy?

There could be legal and tax implications in selling your life insurance policy. The beneficiaries will change once the sale of the insurance policy is finalized. You could be paying taxes on the profit realized from a life settlement. Before selling your policy, consult with your lawyer and accountant.


Contact Information
First Name: Last Name:
Address: City:
State: Zip:
Phone Number: Best Time to Call:
Please answer the form questions below to the best of your ability to determine the Life Settlement potential:
Insured's age: 64 or less Policy Type: Whole Life
65 to 75 Survivorship
76 to 80 Term Life
81 to 85 Universal Life
86 or older Survivorship with one deceased
Insured's Sex: Female Insured's Medical Condition: Healthy Senior
Male Has Minor Health Problems
Does the Policy have a loan? Yes Has Serious Health Problems
No Has Very Serious Illness
Smoking Status: Smoker  

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