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Cashing Out Advisory Council

Due Diligence

It’s important to recognize that although the price offered for your unneeded business life policy is a primary competitive factor, it isn’t the only factor. There are other, equally important, aspects of the life settlement transaction that also need to be carefully considered. You may be surprised to learn that the highest offer may actually not be best because it is a poor-quality offer that will not ultimately benefit you.

Fully understanding the source behind each offer is critical to protecting your private information as well as your life settlement transaction. To preserve your confidentiality, a provider that takes any kind of procedural shortcut to maintain competitive pricing should always be avoided. In addition, only bids from providers that place your settlement funds in an independent institutional escrow account should be considered because this ensures that your money will be available before your policy is transferred.

To safeguard your privacy and the integrity of the life settlement process, Legal Life Settlements expends significant resources and time to conduct continuing due diligence when selecting high-quality brokers (which field life policies to different providers) and providers (which purchase qualified life policies on behalf of institutional investors) with whom to work. This exploratory process assures that your confidential information is available only to qualified, reputable brokers and providers who are committed to protecting your privacy.

Be assured that Legal Life Settlements never associates with brokers or providers who would use private money (from individuals rather than institutional investors) to purchase your business life policy. This ensures that your policy becomes a part of a large portfolio of policies owned by a credible financial company, rather than a single policy owned by an unscrupulous individual. Only institutional capital offers maximum protection from privacy and fraud risks, and it’s the only kind of funding with which we work.

To secure trustworthy and superior brokers and providers, Legal Life Settlements exploits every viable life settlement industry resource on your behalf, thereby leveraging all of the exclusive relationships and intellectual assets that a particular broker or provider may have. Having uncompromised access to an ever-changing marketplace of brokers and providers uniquely offers you exceptional flexibility to sell policies of every type and face amount across a full range of life expectancies, which facilitates an efficient process for obtaining a maximum payout from a high-quality provider.


Each broker must pass an extensive proprietary screening process wherein the company satisfactorily demonstrates that it is a trustworthy and superior organization by:

1. Employing industry best practices.

2. Being properly licensed and in compliance with all relevant laws in each jurisdiction in which it operates.

3. Implementing secure privacy practices to safeguard our clients' medical, financial and personal information, including only utilizing forms and procedures that are Health Insurance Portability and Accountability Act (HIPAA) compliant.

4. Only fielding our clients' life policies to providers who would use institutional (not private) capital to purchase them.

5. Having access to high-quality exclusive as well as general providers.

6. Not being owned by a provider, which prevents “in-house” offers marginally above cash surrender value from being presented as competitive bids reflecting a life policy’s true value.

7. Being wholly independent and having no bias as to a provider.

8. Creating an honest and competitive bidding environment by simultaneously negotiating with multiple providers to secure the highest quality offer.

9. Employing anti-fraud measures in each case.

10. Practicing operational transparency.

11. Fully and accurately disclosing all offers, counteroffers, acceptances and rejections relating to the proposed sale of our clients' life policies.

12. Fully and accurately disclosing any affiliations, contractual arrangements or primary relationships with anyone offering to purchase our clients' life policies.

13. Fully and accurately disclosing all compensation received (as well as the calculation method) for placing our clients' life policies with a particular provider. “Compensation” includes anything of value received from any source, including holdbacks, bonuses, overrides, incentives, fees, and/or commissions.


Each provider must pass an extensive proprietary screening process wherein the company satisfactorily demonstrates that it is a trustworthy and superior organization by:

1. Employing industry best practices.

2. Being properly licensed and in compliance with all relevant laws in each jurisdiction in which it operates.

3. Offering a rescission period, even in jurisdictions where it is not mandatory.

4. Paying sellers within 3 business days of written verification of changes in life policy ownership and beneficiary.

5. Implementing secure privacy practices to safeguard our clients' medical, financial and personal information, including only utilizing forms and procedures that are Health Insurance Portability and Accountability Act (HIPAA) compliant.

6. Only using institutional capital (not private money) to purchase our clients' life policies.

7. Having immediate access to ample institutional capital sources, thereby insuring that cash is readily available for purchasing a life policy.

8. Utilizing accurate life expectancy reports prepared by credible underwriters.

9. Obtaining releases from beneficiaries so that there are no future claims.

10. Employing anti-fraud measures in each case.

11. Having a history of competitive pricing of policies.

12. Depositing purchasing funds in a third-party institutional escrow account until new ownership and beneficiary information is verified and documented.

 

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