AGENTS AND PROFESSIONALS

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AGENTS AND PROFESSIONALS









A life settlement is the sale of a life insurance policy for a value in excess of the cash surrender value, but less than the face value.

Life settlements represent an important solution for a growing number of people who thought they were stuck with a life insurance policy they no longer need. Many people do not realize a life insurance policy is their personal property and can be sold.

  •  The seller receives a cash offer for their policy.
  •  The buyer pays all future premiums.
  •  The buyer receives the face value upon the death of the insured.
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What is the Qualification Criteria?

Age
65 years or older (Younger insureds may qualify depending on certain medical conditions)
Health Status
Life expectancies up to 180 months
Type of Insurance
Universal Life (UL), Survivorship Universal Life (SUL), Convertible Term Life, and Whole Life (WL)
Death Benefit (Face Amount)
$100,000+
Policy Premiums
Illustrated premiums that are less than 5% of the face amount
Date of Issue
The policy must be in force for 25 months before it qualifies for a settlement. Some states require the policy to be in force 4-5 years.
Type of Ownership
Individual, corporate, foundation, trust, non-profit organization or business
Carrier
U.S. based only, A.M. Best Rating of B++ of better

Top Ranked Provider
We are the top ranked life settlement provider by capital deployed and have been active in the life settlement industry since 2004. Magna paid almost half a billion dollars to consumers for their life insurance in the past five years, paying $600,000 on average in settlement proceeds to insureds. We are licensed or qualified to do business in all 50 states.


Owned By Vida Capital

Magna is owned by Vida Capital, a multi-billion dollar longevity-contingent asset management firm that provides the financial resources to take direct title of policies, saving the policy owner time while protecting their personal information. We are not a broker intermediary.

Austin, Texas Innovators
We are Austin-based innovators with a culture of teamwork, respect and responsibility.

  1. Submit an in-force illustration

  2. Magna will review the policy and call you with an informal range of offer

  3. Submit a HIPAA form and necessary additional information

  4. Magna will obtain medical records and life expectancy report on the insured

  5. Magna will obtain medical records and life expectancy report on the insured

  6. Magna will extend a formal offer

Get cash for your policy and
start living a better life now

Encourage your client’s to sell their unwanted or unneeded life insurance by becoming a certified lead generator with Magna Life Settlements.

Through our Lead Generator Referral Program, watch five instructional videos on the life settlement process, and become certified to introduce your clients to sell their life insurance with Magna support and marketing efforts.

Get Educated and Get Certified Now

Discover how we
can change your life


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