In order to qualify for a Life Insurance Settlement, the insured must complete a SecondaryLife™ Application, and authorization and disclosure forms. Once the life insurance settlement case is reviewed by the underwriting team and approved as 'pre-qualified', medical and insurance records are obtained.

Financial analysts will carefully examine all of the provided information to determine if the transaction meets the current requirements of any available institutional life insurance settlement funding source. The most common criteria examined include the age of the insured, health impairments since policy issue, policy composition, and premiums needed to maintain policy.

Multiple institutional life insurance settlement offers will be procured and presented. Upon acceptance of the life insurance settlement offer, closing documents are issued. Once the completed closing documents are received, change forms are forwarded to the insurance carrier.

Upon written verification of the change of ownership and beneficiary, life insurance settlement funds are then sent to the former policy owner. Payment is made to the former owner of the policy via a bank check or electronic funds transfer within 24-48 hours. If a client changes his/her mind, the client has 15 days to rescind the offer and return the entire purchase price, plus any premiums paid, to the purchaser. After receipt, the owner and beneficiary will then revert back to their previous form.