A Viatical & Life Settlement Brokerage

The qualifications for a life insurance settlement transaction differ from purchaser to purchaser in much the same way as the underwriting criteria for life insurance companies.  Table ratings can differ from carrier to carrier, and so can a life expectancy in this business.

In order to save valuable time for the sellers (viators) and their agents, Welcome Funds underwrites each case in-house and also obtains an independent life expectancy review.  Once this process is completed, the life expectancy and insurance parameters are matched to the various requirements of our multiple funding sources.   By working with every funder, Welcome Funds has the ability to match each case to the best funding sources and ensure that all of our clients receive the highest possible settlements.

Below are summaries of the industry's standards of qualification for a Viatical Settlement and Life Settlement.

1. Life Insurance:

• Only non-contestable life insurance policies are considered.
• Insurance Company must be rated B+ or better.
• Minimum face value of $50,000 - NO MAXIMUM.  Lower face values are considered if multiple policies total over $50,000.
• All types of policies qualify, including term, whole life, universal life, joint-survivorship, group, corporate-owned policies (COLI), key-man, and life policies held in irrevocable life insurance trusts.
• Policy Owner may be the insured, a company, a family member, a charity or any other entity with an insurable interest in the life of the insured.

2. Insured's Health Status:

• Terminally-ill individuals with limited life expectancies of 5 years or less are considered.
• Terminal illnesses may include cancers, heart disease, AIDS, Alzheimer's disease, ALS, or any other life threatening disease.
• Copies of medical records are obtained for verification of health status.  NO MEDICAL EXAMS ARE REQUIRED!
  

1. Life Insurance:

• Only non-contestable life insurance policies are considered.
• Insurance Company must be rated B+ or better.
• Minimum face value of $250,000 - NO Maximum.  Lower face values considered if insured has shortened life expectancy, or has multiple policies totaling over $250,000.
• All types of policies qualify, including term, whole life, universal life, joint-survivorship, group, corporate-owned policies (COLI), key-man, and life policies held in irrevocable life insurance trusts.
• Policy Owner may be the insured, a company, a family member, a charity or any other entity with an insurable interest in the life of the insured.
• Yearly premiums should be under 5% of the policy's face value.

2. Insured's Health Status:

• Seniors with limited life expectancies of under 10 years may qualify.
• There must be a change in health or in table rating since the policy was issued
• The general target age is 75 and above.
• Please do not believe some ill-informed agents or brokers, healthy seniors do not qualify.  Some type of health issues that limit the insured's life expectancy must be present.
• Copies of medical records are obtained for verification of health status.  NO MEDICAL EXAMS ARE REQUIRED!

1. Find out the qualification requirements for viatical and senior settlements.

2. Review the step by step life insurance settlement process.

3. Read the most frequently asked questions.

4. Learn more about the tax implications of a life insurance settlement.

5. Request more information or visit our Download Center!

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