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.

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 & 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.

Over the past 24 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 35,000 life settlement offers on behalf of policyholders. Find out more about how Welcome Funds can help you sell your life insurance policy for cash.

Kevin Received $30,000

Selling his Term Life Insurance Policy

Kevin Received $30,000
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Kevin purchased a 10-Year level term policy at age 58 to provide his family with some financial security. The expiration date was fast approaching and William's medical bills were mounting. In need of some financial relief, Kevin was contemplating canceling the policy.


Thankfully, Kevin's wife reached out to Welcome Funds to see if the policy had any life settlement value. It did. Based on Kevin’s age and health, Welcome Funds secured William and his wife $30,000, which is certainly better than lapsing the policy for $0.00.


Kevin Received $30,000

Policy's Insured

Male | Age 66

Health Status

Poor

Policy Type

Term Life Policy

Face Amount

$100,000

Annual Premium

$5,799

Surrender Value

$0

Life Settlement Payout $30,000

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The above case studies are taken from the internal files of Welcome Funds. Case studies are provided for informational and educational purposes only. Results may vary. Qualification is based on age, health, and future premium costs, and not all policies will qualify for a life settlement offer. The client’s names have been changed to protect their privacy.

Scott Received $2,650,000

Selling his Term Life Insurance Policy

Scott Received $2,650,000
Quotation mark open

Scott purchased a $6M 10-year term policy at age 59 to protect his family and business interests. A decade later, approaching the term conversion deadline, Scott was facing a $148,000 annual conversion premium. He did not want to pay this much for coverage. He spoke with his advisor who recommended looking into the life settlement option. Based on his significant health history, he told Scott he could “probably get $1M bucks.” Scott was thrilled.


They contacted Welcome Funds and experienced the power of the firm’s auction platform. Scott received 25+ offers and was overwhelmed when he ended up receiving $2,650,000! He is enjoying his retirement with plenty of cash in the bank. Both Scott and his advisor who was paid on the conversion are extremely happy.


Scott Received $2,650,000

Policy's Insured

Male | Age 69

Health Status

Poor

Policy Type

Term Life Policy

Face Amount

$6,000,000

Annual Premium

$148,000

Surrender Value

$0

Life Settlement Payout $2,650,000

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The above case studies are taken from the internal files of Welcome Funds. Case studies are provided for informational and educational purposes only. Results may vary. Qualification is based on age, health, and future premium costs, and not all policies will qualify for a life settlement offer. The client’s names have been changed to protect their privacy.

Janet Received $121,500

Selling her Term Life Insurance Policy

Janet Received $121,500
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Janet owned a 20-year term life insurance policy that was expiring within a year. Unfortunately, she could not afford to convert the coverage to a permanent policy. So, just like most term life insurance consumers, she was about to let her term policy lapse and receive $0!


Thankfully, Janet learned about the option to sell her policy and contacted Welcome Funds. And she is sure glad she did! Janet received $121,500…instead of $0! Just like a home or car, a life insurance policy may be a valuable asset that can be sold for cash in a regulated secondary market. With a cash life settlement from Welcome Funds, Janet now has some relief from the financial stress of mounting medical bills.


Janet Received $121,500

Policy's Insured

Female | Age 68

Health Status

Poor

Policy Type

Term Life

Face Amount

$450,000

Annual Premium

$28,820

Surrender Value

$0

Life Settlement Payout $121,500

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The above case studies are taken from the internal files of Welcome Funds. Case studies are provided for informational and educational purposes only. Results may vary. Qualification is based on age, health, and future premium costs, and not all policies will qualify for a life settlement offer. The client’s names have been changed to protect their privacy.

Larry Received $173,005

Selling his Group Life Insurance Policy

Larry Received $173,005
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After paying premiums on his life insurance policy for years, Larry’s liquidity needs and health changed significantly. Times were tough, so to maintain his savings, Larry decided it was best to lapse the coverage. Thankfully, Larry’s advisor contacted Welcome Funds during the policy's grace period to determine if the policy had any value in the secondary market.


After an initial analysis, it was evident that Larry was an excellent candidate for a life settlement. Welcome Funds negotiated multiple bids and secured a purchase price of $173,005! Larry used the proceeds from the settlement to pay for costly treatments and to maintain his quality of life, stress-free. The advisor not only earned a well-deserved commission but also receives client referrals from Larry and his family as appreciation for his brilliant recommendation!

Larry Received $173,005

Policy's Insured

Male | Age 74

Health Status

Poor

Policy Type

Group Universal Life

Face Amount

$500,000

Annual Premium

$10,856

Surrender Value

$0

Life Settlement Payout $173,005

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The above case studies are taken from the internal files of Welcome Funds. Case studies are provided for informational and educational purposes only. Results may vary. Qualification is based on age, health, and future premium costs, and not all policies will qualify for a life settlement offer. The client’s names have been changed to protect their privacy.

Mark Received $250,000

Selling his Life Insurance Policy

Mark Received $250,000
Quotation mark open

Mark bought an individual $2M Lincoln National Universal Life policy in 2017 (at age 78). Due to financial constraints, he could no longer afford the $104,330 annual premium to maintain the life insurance policy. Unfortunately, reducing the Death Benefit was not a consideration because there was very little cash in the policy.


Mark thought he needed to surrender the life insurance policy for $4,811. When he asked his financial advisor to send him the surrender paperwork, the advisor suggested the life settlement option and Welcome Funds. Mark realized that anything above his surrender value would be a victory. It certainly was, in a big way.


Mark Received $250,000

Policy's Insured

Male | Age 78

Health Status

Good

Policy Type

Universal Life

Face Amount

$2,000,000

Annual Premium

$104,330

Surrender Value

$4,811

Life Settlement Payout $250,000

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The above case studies are taken from the internal files of Welcome Funds. Case studies are provided for informational and educational purposes only. Results may vary. Qualification is based on age, health, and future premium costs, and not all policies will qualify for a life settlement offer. The client’s names have been changed to protect their privacy.

Mr. Williams Received $4,743,000

Selling His Life Insurance Policy

Mr. Williams Received $4,743,000
Quotation mark open

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. Therefore, the coverage was no longer needed and surrender was being considered. Fortunately, his advisor was aware of a more beneficial exit strategy, the ability to sell life insurance policies in a regulated secondary market.


He presented Mr. Williams with a pre-market policy valuation report from Welcome Funds that estimated the market value to be substantially higher than the $275,485 surrender value. They were both shocked at the difference. Although Mr. Williams had never heard of a life settlement, he embraced the process, and well, the result – a difference of $4,467,51 - speaks for itself!


Mr. Williams Received $4,743,000

Policy's Insured

Male | Age 86

Health Status

Heart Disease

Policy Type

Universal Life

Face Amount

$10,000,000

Annual Premium

$445,114

Surrender Value

$275,458

Life Settlement Payout $4,743,000

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The above case studies are taken from the internal files of Welcome Funds. Case studies are provided for informational and educational purposes only. Results may vary. Qualification is based on age, health, and future premium costs, and not all policies will qualify for a life settlement offer. The client’s names have been changed to protect their privacy.

Ronald Received 22 Life Settlment Offers

Selling his Life Insurance Policy

Ronald Received 22 Life Settlment Offers
Quotation mark open

Ronald purchased a $300,000 Universal Life policy back in 1999 to provide his wife with financial security. Unfortunately, after 20+ years, Ronald could no longer afford the premium payments as his healthcare costs were mounting. One day, while watching the evening news, Ronald saw a TV commercial from a direct buyer, called a life settlement provider, about selling a life insurance policy for cash. Ronald decided to call the direct buyer and after weeks of waiting, he was offered $10,000 for his $300,000 policy. Ronald said, “no way,” and decided to investigate other alternatives.


Ultimately, Ronald decided that a life settlement broker, who would contact multiple companies to maximize the purchase price, would be his best option. After extensive research, he chose Welcome Funds. Welcome Funds conducted a transparent auction securing a total of 22 offers. In the end, Ronald received a check for $64,800, 548% more than the offer extended by the direct buyer!

Ronald Received 22 Life Settlment Offers

Policy's Insured

Male | Age 69

Health Status

Fair

Policy Type

Universal Life

Face Amount

$300,000

Annual Premium

$21,442

Surrender Value

$749

Life Settlement Payout $64,800

Quotation mark close

The above case studies are taken from the internal files of Welcome Funds. Case studies are provided for informational and educational purposes only. Results may vary. Qualification is based on age, health, and future premium costs, and not all policies will qualify for a life settlement offer. The client’s names have been changed to protect their privacy.

Margie Received 16 LIfe Settlement Offers

Selling her Term Life Insurance Policy

Margie Received 16 LIfe Settlement Offers
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Margie purchased a 20-year level, convertible Term life insurance policy at age 48 to provide her daughter with financial security. Twenty years later, the term premium was set to increase dramatically and Margie's family could not afford to maintain the term life policy. Margie decided to explore a life settlement after seeing a TV commercial. She contacted one buyer directly, called a life settlement provider, but felt the $20,000 offer she received was low given her deteriorating health.

Thankfully, Margie reached out to Welcome Funds to obtain a second opinion. Welcome Funds conducted a transparent auction securing a total of 16 offers from multiple life settlement providers (buyers). In the end, Margie was paid $54,000, a 170% increase compared to the offer she received initially, and was able to assist her daughter with a down payment on a new house.

Margie Received 16 LIfe Settlement Offers

Policy's Insured

Female | Age 68

Health Status

Fair

Policy Type

Term Life

Face Amount

$500,000

Annual Premium

$23,880

Surrender Value

$0

Life Settlement Payout $54,000

Quotation mark close

The above case studies are taken from the internal files of Welcome Funds. Case studies are provided for informational and educational purposes only. Results may vary. Qualification is based on age, health, and future premium costs, and not all policies will qualify for a life settlement offer. The client’s names have been changed to protect their privacy.

Jerry Received 10 offers and $100,000

Selling his unaffordable Life Insurance Policy

Jerry Received 10 offers and $100,000
Quotation mark open

Jerry purchased a $500,000 Universal Life policy seven years ago to provide his wife with “peace of mind.” Unfortunately, he could no longer afford the premium payments and contemplated letting the policy go. Jerry’s wife saw a TV commercial from a direct buyer, called a life settlement provider, about selling a life insurance policy for cash.


Jerry decided to call the direct buyer and after waiting several months, he was offered $30,000 for his policy. Jerry was skeptical and thought the purchase price was low given his age and health history. He then contacted Welcome Funds, “just to be sure.”


Welcome Funds conducted a transparent auction securing a total of 10 offers. In the end, Jerry and his wife received a check for $100,000, 233% more than the offer from the direct buyer!


Jerry Received 10 offers and $100,000

Policy's Insured

Male | Age 78

Health Status

Fair

Policy Type

Universal Life

Face Amount

$500,000

Annual Premium

$20,794

Surrender Value

$13,794

Life Settlement Payout $100,000

Quotation mark close

The above case studies are taken from the internal files of Welcome Funds. Case studies are provided for informational and educational purposes only. Results may vary. Qualification is based on age, health, and future premium costs, and not all policies will qualify for a life settlement offer. The client’s names have been changed to protect their privacy.

Jack Received $187,000

Selling his Universal Life Insurance Policy

Jack Received $187,000
Quotation mark open

A small business was filing for bankruptcy and its assets were being reviewed. The company’s financial advisor helped the partners identify the value, which they did not know existed, contained in its key man life insurance coverage. The advisor recommended that Welcome Funds appraise the policy. The business decided to maintain the coverage so that the life insurance policy could be sold as a life settlement, instead of letting it lapse for $0.


The proceeds from the sale of the life insurance policy paid off creditors and finalized the bankruptcy settlement. The partners were able to address their much needed liquidity needs and move on with their lives.


Jack Received $187,000

Policy's Insured

Male | Age 77

Health Status

Fair

Policy Type

Universal Life

Face Amount

$1,500,000

Annual Premium

$74,000

Surrender Value

$0

Life Settlement Payout $187,000

Quotation mark close

The above case studies are taken from the internal files of Welcome Funds. Case studies are provided for informational and educational purposes only. Results may vary. Qualification is based on age, health, and future premium costs, and not all policies will qualify for a life settlement offer. The client’s names have been changed to protect their privacy.

Dave Received 21 Life Settlement Offers

Selling his Universal Life Insurance Policy

Dave Received 21 Life Settlement Offers
Quotation mark open

After seeing an ad from a direct buyer on TV, Dave was surprised to learn that his life insurance policy could be sold for a cash payment. Dave contacted the direct buyer who offered him $43,000. Before proceeding with that offer, Dave contacted his CPA to see if this was in his best interest.


The CPA recommended he receive a second opinion and contacted Welcome Funds. Dave quickly learned that several other buyers were willing to extend offers on his policy as well. Thanks to the auction platform of Welcome Funds, Dave received almost double the amount he was initially offered by the direct buyer, thereby maximizing the value of his policy.


Dave Received 21 Life Settlement Offers

Policy's Insured

Male | Age 88

Health Status

Fair

Policy Type

Universal Life

Face Amount

$300,000

Annual Premium

$36,000

Surrender Value

$0

Life Settlement Payout $81,005

Quotation mark close

The above case studies are taken from the internal files of Welcome Funds. Case studies are provided for informational and educational purposes only. Results may vary. Qualification is based on age, health, and future premium costs, and not all policies will qualify for a life settlement offer. The client’s names have been changed to protect their privacy.

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 sale of a life insurance policy to a third party was established as a legal right for consumers in 1911 based on the Supreme Court ruling in Grigsby v. Russell, 222 U.S. 149 (1911). Mr. Justice Holmes said it best, "To deny the right to sell except to persons having such an (insurable) interest is to diminish appreciably the value of the contract in the owner's hands." This opinion placed the ownership rights in a life insurance policy on the same legal footing as more traditional investment property such as stocks, bonds, and real estate. As with these other types of property, a life insurance policy can be transferred to another person at the discretion of the policy owner. This decision established a life insurance policy as transferable property that contains specific legal rights, including the right to:

  • Name the life insurance policy beneficiary
  • Change the beneficiary designation (unless subject to restrictions)
  • Assign the life insurance policy as collateral for a loan
  • Borrow against the life insurance policy
  • Sell the life insurance policy to another party

Although this ruling established the right for life insurance consumers to sell or trade their life insurance policies, the practice did not become common until the late 1980's with the start of the viatical settlement industry, which was the precursor to the life settlement market.

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