The amount Canadian Life Settlements will pay you is based on several factors, including:

• The projected life expectancy of the insured
• The net death benefit of the life insurance policy
• The projected amount of remaining life insurance policy premium payments
• The type of policy and specific life insurance company

In most cases the amount Canadian Life Settlements will advance is considerably higher than the Cash Surrender Value that will be offered by your insurer, but is less than the policy’s death benefit.

There are several stages to the process. Generally, the Canadian Life Settlements process can provide you with a formal offer letter within five days of receiving a completed application and a verification of the eligibility and details of your life insurance policy.

Once you accept the offer, we will need to either change the life insurance policy’s ownership and beneficiary status to Canadian Life Settlements or, collaterally assign the policy to Canadian Life Settlements. This part of the process can take four to six weeks.  Once confirmation is received from the life insurance carrier, we can generally advance funds within two business days.

Once approved and processed, you will receive your advance either in a lump sum by cheque or wire to your bank, or periodic payments if that’s what you prefer with direct deposit to your bank account.

Canadian Life Settlements offers a hassle-free program with zero application fees or extraneous expenses. An upfront fee is only required if medical underwriting is necessitated, but rest assured, this cost is fully reimbursed upon the successful completion of your life settlement transaction.