|
 |
|
 |
Life Settlements
|
|
|
|
Mountain Financial's experienced staff will do its best to expedite the life settlement
process and provide each client and/or agent with an honest and informative experience.
Please understand that every case may not qualify, although we will exhaust all
attempts to obtain a viable offer from a reputable and licensed funder. It is our
fiduciary duty to negotiate with these potential buyers and do our best to obtain
the highest possible offer available for each and every client.
|
|
|
|
The process generally takes between 4 – 6 weeks from submission of the application
to presentation of offers.
|
|
|
|
The Transaction Process – Step By Step |
|
|
- Complete Mountain Financial's Application, Disclosure and Authorization Forms and
provide Mountain Financial with all necessary documentation.
- When these forms and documents have been received, our work begins.
- Mountain Financial's staff will immediately review your application, making sure
all documents have been completed properly. Please remember to submit a copy of
the life insurance policy.
- Next, your life insurance and medical status are verified by acquiring all of the
necessary documentation from your insurance company as well as your doctor.
- Once the proper information is verified, your case file is then reviewed by an insurance
specialist and professional medical expert.
- Based upon these reviews, your file is evaluated and negotiations begin with our
multiple funding sources.
- We will negotiate the absolute highest settlement amount available for your policy.
Please review our negotiation process for more detailed information.
- We then relay the highest offer to the applicant and he/she decides whether or not
to sell the policy.
- If the offer is accepted, legal closing documentation is drafted and overnighted
to the seller (applicant), which includes: a purchase and sale agreement, life insurance
policy change forms, beneficiary waivers, etc. These documents must be signed, witnessed
and notarized in order for the transaction to be completed.
- Upon the return of these closing documents, the policy change forms are then submitted
to your life insurance company to transfer the rights of the policy to the purchaser.
- Payment to the seller is completed via bank check or wire, within 24–72 hours
following the verification of the life insurance policy transfer of ownership and
beneficiary rights in the policy. Please note that this time period may differ by
state, depending on existing state law and provider agreement in non–regulated
states.
- Rescission Period: Seller has the right to change their mind for 15 calendar days
(30 days in some states) from the date funds were received. Details of the rescission
period will be included in the Life Settlement Purchase & Sale Agreement.
|
|
Key Factors |
|
|
- Completed application. Our application must be completed in full. It is also
required that the policy owner and insured complete our Release of Information Form.
This form allows us to contact doctors and insurance companies to request the necessary
documentation required to determine qualification status. Please also remember to
submit a copy of the life insurance policy.
- Acquisition of medical records. This can cause considerable delays. If we
are provided with a complete medical file (most recent 4 years of records), the
process can be completed very quickly. Otherwise, we must request this information
from the insured's doctors, which can take 2 – 3 weeks on average.
- Verification of life insurance policy. The insurance company must complete
our verification of coverage form. This usually takes between 7 – 30 business
days.
- Availability of applicant. This process can be delayed if we cannot contact
the applicant in a timely manner. This is very seldom a problem for those who are
motivated to learn their qualification status and available offers.
|
|
|
 |
|
 |
|
| Nikkei | $7,703.04 | -570.18 | | | IBEX | $7,990.10 | -221.40 | | | H Seng | $12,298.56 | -517.24 | | | S&P | $806.58 | 0.00 | | | DOW | $7,997.28 | -427.47 | | | Nasdaq | $1,386.42 | 0.00 | | | Libor 1yr | 2.91% | -- | | | Prime | 4.00% | -- | |
Transparent
Transparent:
Earning your trust through integrity, communication and full disclosure
Objective
Objective:
Searching for the best possible solution under your direction
Professional
Professional:
Working at highest level of professionalism to facilitate every case
|