BROKER

Unless a policy is submitted directly to Magna by a seller, a Broker could receive a fee when the Policy is purchased by Magna. The amount of the fee would be agreed to by the Broker and Seller. The amount will not exceed the lesser of 8% of the net death benefit payable under the Policy, 30% of the Net Purchase Offer, or the maximum amount permitted by applicable law.

  • Life settlements/broker application
  • Medical release information/Health Insurance Portability and Accountability Act form (HIPAA)
  • Current in-force Illustration with level premiums to maturity and minimum cash surrender value of $1,000 at maturity or age 100 dated within the last 60 days
  • Life expectancy (LE) reports dated within the last 60 days
  • Medical records covering past five (5) years
  • State disclosure form (if applicable)
  • Send ALL submissions to: submit@magnalifesettlements.com
  • When an offer to purchase a life insurance policy has been accepted by the submitting agent/broker on behalf of the seller, Magna will require the following documents prior to issuing contracts:
    • Copy of completed and signed broker or provider life settlement application
    • State-specific disclosure form if applicable
    • Authorization to release protected health information (HIPAA)
    • In-force illustration with minimum level premium to maintain the death benefit through maturity, solving for $1,000 of account value at maturity, dated within sixty (60) calendar days prior to the seller’s acceptance date
    • Completed offer sheet signed by the broker/agent
    • Copy of policy including policy application and all riders, schedules, and exhibits
    • Any and all life expectancy (LE) reports on file for insured(s)
    • If Policy is Trust-Owned
      • Trust documentation
    • If Policy is Corporate-Owned
      • Articles of incorporation
      • Certificate of good standing
      • Corporate resolution
      • Bylaws
  • In order to efficiently complete the life settlement transaction, please provide the documents listed above in a timely manner. Please note that additional forms and documents may be requested if needed.

Thank you for submitting your request!

Our dedicated team is reviewing your information and will contact you shortly to discuss life settlement options and next steps.

Thanks for calculating your policy value with us

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MAGNA LIFE SETTLEMENTS CALCULATOR

Year of Birth XXXX
Death Benefit XXXX
Difference in Health Status XXXXXX

Enter contact information so we can discuss life settlement options and next steps

$XXX

Thank you for submitting your request to estimate your policy value.

Based on your answers, we estimate a life settlement of $xxx is likely.

This is a rough estimate, so please complete the form on the left, to receive a life settlement offer for your specific policy. Our process is Quick, Free and Secure and is only used by Magna. We will not sell or disclose your information.

Thank you for submitting your request to estimate your policy value.

Based on your answers, a life settlement is unlikely at this time.

Please complete the form on the left, if you would like us to evaluate your situation more carefully. Our process is Quick, Free and Secure and is only used by Magna. We will not sell or disclose your information.

What is a Life Settlement?
A life settlement is the sale of a life insurance policy to a third party for a value in excess of the policy’s cash surrender value, but less than its face value, or death benefit. A policy owner receives a cash payment, while the purchaser of the policy assumes all future premium payments and receives the death benefit upon the death of the insured.

Common reasons to sell your policy
• Policy no longer needed
• Term Life Insurance policy length of coverage is about to expire
• Struggling to keep insurance premiums
• Life-threatening illness
• Changes in estate planning needs

Disclaimer: This estimate is not a binding offer. Your actual offer may vary significantly according to your circumstances.