AGENTS AND PROFESSIONALS

AGENTS AND PROFESSIONALS

If you have a client’s policy that you would like Magna to evaluate or for more information, please complete the form below:

A Life Settlement is the sale of a life insurance policy to a third party for a value in excess of the cash surrender value, but less than the death benefit

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 cash
  •  The buyer pays all future premiums
  •  The buyer receives the death benefit upon the death of insured

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

Many clients lapse or surrender their policies without knowing that life settlements are an option. Lapsing a policy leaves your client with nothing, and policies that qualify for a settlement typically pay out four times more than the cash surrender value.

Magna Life Settlements allows you to facilitate a life settlement when it is the best option for your client.

Use the pre-qualify a policy form to see if your client’s policy qualifies for a settlement.

  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

Life Settlement Calculator

How much can I get for my policy?
Use our quick and easy life settlement calculator to estimate your payout value.

Sell your client’s unwanted or unneeded life insurance and as an appointed agent with Magna Life Settlements.

Through our Magna University courses, watch five instructional videos on the life settlement process, earn CE credit from WebCE and become officially appointed to sell life insurance policies with our support and marketing efforts.

Discover how we
can change your life


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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