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VIATICAL & LIFE SETTLEMENT BROKER
ARE YOU A CANDIDATE FOR A LIFE SETTLEMENT?
A life settlement is a valuable financial option for policyholders who no longer have a need for their life insurance policies. Instead of lapsing or surrendering a life insurance policy, qualified consumers can now cash in a life insurance policy in a secondary market to receive the fair market value for their asset. We are experts in the life insurance settlement market, and we help simplify the complex process for our clients.
Founded in 2000, Welcome Funds is a professional life settlement broker that is licensed to represent policy owners & negotiate the highest offer from the marketplace on their behalf. Our life settlement company has helped our clients secure more than $1 Billion for the sale of their life insurance policies. It's fast, easy and free to determine if your life insurance policy is eligible for a life settlement. It can seem like a complicated process, but when you have the experts at Welcome Funds on your side, navigating the life insurance settlement market can be easy.
OUR BUYERS COMPETE TO PURCHASE YOUR POLICY
Welcome Funds negotiates directly in the secondary market, where state-licensed financial institutions compete to purchase life insurance policies. Our experienced life settlement negotiation team then creates competition amongst these buyers through an auction process to ensure that the highest offer is secured for our clients. We are experts in both viatical and life settlements.
Over the past 25 years, we have been entrusted by thousands of Americans and their financial advisors to represent their best interests in the life settlement process. Our life settlement team has successfully negotiated over 36,000 life settlement offers on behalf of policyholders. With one application, you gain access to multiple buyers and receive several offers — that's what we like to call Life Settlements. Simplified. Find out more about how Welcome Funds can help you sell your life insurance policy for cash.
TESTIMONIALS
* * * * * Bob| Consumer
Bob
Consumer
We have now completed two transactions with Welcome Funds and I highly recommend them, especially for people like me that are new to the process. Their estimates on transfer were either right in line or exceeded by the actual auctions. Life companies can be very frustrating and without Welcome Funds the process would really be cumbersome. They are very responsive to requests and do not try to sugarcoat the steps that are required to be taken. In this era where so called experts do not necessarily look after their clients, I thought they always had my self interest at heart.
TESTIMONIALS
* * * * * Monica | Consumer
Monica
Consumer
The superior knowledge that Welcome Funds possesses in regards to the Life Settlement process was evident from the start and provided a level of comfort for us. From the beginning of our relationship, Welcome Funds sent detailed information on the process and applicable regulations which were easy to understand. There were no hidden fees or agendas. They were proactive in communications and keeping us informed of the process as it progressed.
TESTIMONIALS
* * * * * Don| Consumer
Don
Consumer
You are a true professional and I fully trusted your advice from our very first conversation. [A direct buyer] initially told me the policy didn’t have much value and offered us $14,000 (Yes, Fourteen Thousand). We would have never sold it for that, but I believe that if we hadn’t already been working with Welcome Funds, we might have never known the true value… You guys are an amazing professional organization and I will gladly recommend you to anyone thinking about selling their insurance.
Received $175,000 instead of $14,000. Welcome Funds added $161,000 of value
TESTIMONIALS
* * * * * Nicole| CPA
Nicole
CPA
Welcome Funds is a life settlement company that has been endorsed by [my IMO], and I can tell you from personal experience that they are the best in the industry. Their process is efficient and easy, their service is great, and I have seen time and time again that no one negotiates better at the auction level, assuring you will get the best possible offers for your clients.
Welcome Funds Frequently Asked Questions
A life settlement enables qualified life insurance policyholders to convert their life insurance coverage into cash by selling it to a state-licensed financial institution. The sale of the policy is similar to the sale of a home or car, all rights, title, and future interest in the asset are legally transferred from the seller to the buyer. The buyer is then responsible for all future premium payments and owns the rights to the future death benefit. These buyers are part of a secondary market for life insurance policies that developed due to the limited options offered by life insurance companies for those consumers who have had changing life circumstances or who could no longer afford their premiums.
Life settlements give consumers a choice, when previously only limited options existed which were dictated by the life insurance company. Now, thanks to the Life Settlement Industry, policyholders have the choice to sell their asset for a fair market value, instead of lapsing a policy with no value received or surrendering it for an amount below fair market value. The life settlement option allows the seller of the life insurance policy to use the proceeds to help pay for long-term care needs, living expenses, or anything else they desire.
Click here to learn more about life settlements and how Welcome Funds can help you!
A viatical settlement is a financial transaction in which a lump sum cash payment is made to the owner of a life insurance policy in exchange for the sale of ownership and beneficiary rights to the life insurance policy. Typically, this term is used for transactions involving only terminally ill insureds who have a life expectancy of less than 24 months.
Are Viatical Settlements Taxable?
For those insureds, the viatical settlement proceeds may be considered tax-free. The viatical settlement option allows policy owners to use the proceeds of the sale to help pay for medical bills, living expenses, or anything else they choose.
Click here to learn more about Viatical Settlement Regulations and more.
The life settlement transaction itself is simple. The policy owner and insured must complete an application, which includes important transactional disclosures and authorizations. A copy of the policy under consideration for sale as well as a premium illustration and the insured's medical records must be obtained. These documents can be requested by Welcome Funds and are required in order to evaluate the policy and begin the official life settlement offer negotiation process. There are no out-of-pocket fees to receive an offer and there is absolutely no obligation to sell the policy. Here is a quick summary of the step-by-step life settlement process:
- Complete our FREE Life Settlement Qualifier to determine eligibility, then speak with a Client Care Advocate to receive a Free Appraisal
- Review important disclosures to ensure you understand the process and requirements
- Complete our formal application
- Our life settlement experts will then expedite the requests for the necessary documents required to prepare your case for market submission
- Your life settlement case is then submitted to our National Buyer Network
- Offers and declines are received from buyers and negotiations are conducted to maximize the offers
- A final bid is secured when the highest bidder is identified
- Policyholder accepts or declines the bid. If acceptable, the closing process begins
- Closing documents are prepared by the buyer and sent to the policyholder and insured for signatures
- Policy title, values and other pertinent information is verified
- Official transfer of ownership and beneficiary rights are completed with the life insurance company
- Funds are released from escrow to the policyholder
LIFE SETTLEMENT BLOG
Direct Life Settlement Buyers vs. Welcome Funds – Advisor Beware!
Posted: by John Welcom
Welcome Funds has the privilege of working with numerous financial advisors and wealth managers – and have done so for two decades – some who exclusively focus on servicing high net worth clients. One such advisor who is active in the life settlement market — and already understands the value he can create for his clients — had historically negotiated directly himself with two or three leading buyers of life insurance policies. He thought that simply engaging with mor...
How to Sell Your Life Insurance Policy for $4,743,000 Instead of $275,485?
Posted: by John Welcom
Mr. Williams purchased $10 Million in life insurance coverage in 2001 to provide his family with financial security. Over time, his financial priorities changed: his wife passed away, his children became financially independent, financial burdens arose and the estate tax exemption increased substantially.
Suitability of Life Settlements
Posted: by John Welcom
Traditionally, estate planning advisors counsel their high net worth clients to obtain life insurance policies with large death benefits. The strategy is simple: create a vehicle for heirs to receive tax-free income at the time of an insured’s passing so sufficient funds are available to pay large estate tax bills when assets are inherited.
What is the Most Suitable Exit Strategy for Life Insurance?
Posted: by John Welcom
All eyes in the life insurance agency and the financial advisory world have been on New York, where in the summer of 2019, the New York State Supreme Court paved the way for implementation of Insurance Regulation 187. This rule imposes a new standard for agents and brokers when issuing a recommendation to a client regarding an annuity or life insurance product.
How to Get the Highest Life Settlement Offer
Posted: by John Welcom
When you decide to sell a valuable personal asset, you usually want to obtain the highest purchase price for that property. It is sound business sense. However, how do you truly know when you have reached the point of accepting and securing the most desirable offer?
Understanding the Fair Market Value of a Life Insurance Policy
Posted: by John Welcom
When a professional advisor identifies a life insurance policy that a client no longer needs or wishes to maintain, he should ask, as standard protocol, whether that policy may have value in the secondary market. If so, the client may be able to sell the policy in a life settlement transaction, enabling him to receive a higher cash payout than he otherwise would obtain by lapsing or surrendering the policy back to the insurance company.
The Power of a Life Settlement Auction
Posted: by John Welcom
Professional advisors with clients who no longer need or wish to maintain a life insurance policy have options when exploring the secondary market. Many advisors prudently rely on a licensed life settlement broker to assist them in the sale of the policy and with all aspects of the transaction. However, there is still a large number of professionals persuaded to work directly with only one buyer, called a life settlement provider.
Rebuttals to the “Direct Buyer” Model for Life Settlements
Posted: by John Welcom
Most professional advisors who explore the potential sale of an unwanted life insurance policy on behalf of their clients will rely on the assistance of a licensed life settlement broker. Life settlement brokers represent the policy owner in the transaction and have a duty to act in their best interests. Most notably, the broker’s and client’s goal is aligned: to sell the policy for the highest price possible.
Carrier Resistance To Life Settlements: Clients Need To Know They Can Sell Their Policies
Posted: by John Welcom
Consumers who sell their life insurance policies in the life settlement market receive as much as seven times more money than they would have received by surrendering their policies back to the insurance companies. Seven times! However, an estimated 9 out of 10 policies are allowed to lapse before paying a claim, according to the Life Insurance...
The Danger of Trying to “Time the Market” for Life Settlements
Posted: by John Welcom
Most investors in the stock market understand the danger of “market timing” — trying to choose the right day to buy a stock when the price is low and sell it when the price is high.
