Chicago Life Settlement
If you are searching for a life settlement in Chicago, IL, begin by applying with Ideal Settlements today. Ideal Settlements is an experienced life settlement company that provides senior life settlements and viatical settlement transactions to seniors in Chicago. Ideal is a client centric company that puts our customers first. We are a transparent company that educates our clients throughout the life settlement process. Ideal Settlements takes all the necessary steps throughout the life settlement process assuring each client the most competitive buyouts for their life insurance policy. If you are considering a life settlement in Chicago, begin by applying with Ideal today.
The different reasons why seniors decide to sell their life insurance policies include:
- High premiums
- Threat of a policy lapse
- Investment reasons
- Medical & Living expenses
- Family member needs money
- Charitable donation
- Outlived the beneficiary
A life settlement company in Chicago should pay all the costs of ordering documentation (life expectancy reports & medical reports) and the administrative expense of packaging and sending out applications to potential buyers. Ideal pays for all up-front cost for our clients. We will also pay the costs for any financial representative searching for life settlements for their senior clients.
A Chicago life settlement company must be willing to shop an application with multiple lenders. At Ideal we work with over 50 institutional buyers that all have a vested interest in competing for our clients' policies.
A senior considering the sale of a life insurance policy may no longer be in the financial position to pay the premiums on the policy or have outlived the beneficiary of the policy. Most seniors believe if they no longer can afford or need a policy, they should just stop paying the premiums on the policy. The Life insurance industry does very little educating their senior clients about the benefits of a life settlement. Life insurance companies benefit from lapsed polices because they are no longer obligated to pay death benefits to the beneficiary. They also know that a senior has an option of selling their life insurance in the secondary market for more than what the carrier can offer. A life insurance policy is worth more in the secondary market than selling the policy back to the insurance carrier.
A sample list of life insurance policies that an institutional buyer will consider purchasing:
If you are searching for a Chicago life settlement you may be evaluating a local broker or a company that can handle life settlement or viatical settlements in the state of IL. The most important factor will be finding a company that can offer more money for your life insurance policy. If you are a senior living in Chicago and searching for a senior life insurance settlement, begin by applying with Ideal today. We believe we can get you the maximum amount for the sale your life insurance policy with an Illinois life settlement.