Life Asset Group


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1.	Who is eligible to sell a life insurance policy?
2.	How much money will I get for my policy?
3.	How do I know if my policy will qualify?
4.	How long does it take to sell an insurance policy?
5.	What happens to the policy after I sell it?
6.	What questions and documents can I expect to be asked during the sale of my life
	insurance policy?
7.	Are there any medical exams or application costs?
8.	What types of life insurance policies can be sold?
9.	Once I sell the policy is there a restriction of what I do with the money?
10.	Who will be responsible for premium payments after the sale of a policy?
11.	Will I be taxed on the money I receive from selling my life insurance policy?

Who is eligible to sell a life insurance policy?

There are essentially two types of transaction settlements when selling a life insurance policy, life settlements and viatical settlements. A life settlement is a cash payment for life insurance policies insuring people age 65 and over. Life settlements provide individuals and businesses with a cash amount greater than the surrender value of the life insurance policy. This type of settlement may be for senior citizens with or without major health concerns. The second type of settlement, viatical settlement, is a cash payment for selling life insurance policies insurance people of any age that are seriously ill.

How much money will I get for my policy?

The amount of money that you will receive from selling your life insurance policy depends on a number of factors such as:

• Age
• Medical condition
• Type of insurance policy
• Rating of the issuing insurance policy
• The amount of money left on the policy to be paid

We will be able to help you determine the value of your life insurance policy. Please complete and submit our no-obligation, free appraisal application.

How do I know if my policy will qualify?

Just like finding a realtor and buyer when selling your home, it is necessary to ensure you have a licensed broker and a buyer for your life insurance policy. We are here to help you through the process to ensure you receive the highest market value for your policy. Most types of individual life insurance policies qualify, as long as they are at least $100,000 in face amount and have been existence for at least two years. Please complete and submit the free appraisal application to us so that we may evaluate your policy.

How long does it take to sell an insurance policy?

Assuming that your insurance policy qualifies, the transaction takes between 45 and 60 days however this can vary based on factors outside of our control such as medical records retrieval and response from the carrier for proper illustrations. For a more detailed explanation, please contact a case manager who will be happy to walk thru the specifics.

What happens to the policy after I sell it?

When the policy owner sells a life insurance policy, he or she transfers all rights and obligations of the policy to an investment institution (new owner) for a percentage of the face value of the policy. The death benefits of the policy eventually will be paid to the new owner/institution.

What questions and documents can I expect to be asked during the sale of my life insurance policy?

During the initial free appraisal process, you will be asked to provide your contact information, type of insurance policy you might sell, the amount of the insurance policy, the state where you live, your age, and your general health ranking. With this information, Life Asset will be able to provide you a free no-obligation appraisal of your life insurance policy. Should you choose to sell your policy once we have provided you the appraisal amount you have been prequalified, you will need to provide photocopies of the following documentation:

• Photocopy of the insurance policy
• Photocopy of your driver’s license, state ID card, Military ID card, or passport
• Photocopy of your social security card
• Photocopy of any divorce (if applicable)
• Photocopy of any bankruptcy dismissal (if applicable)

Are there any medical exams or application costs?

The application and appraisal process with Life Asset is free and no medical exam is required.

What types of life insurance policies can be sold?

As you probably guessed, the life insurance industry has a variety of different types of products. The following list of life insurance types that we can help you sell include:

• Universal Life
• Term Life
• Whole Life
• Variable Life
• Survivorship Life
• Adjustable Life
• Joint First to die
• Group ** Convertibility may be required

Once I sell the policy is there a restriction of what I do with the money?

No. Regardless of why you sell the insurance policy the money is yours to spend how you like.

Who will be responsible for premium payments after the sale of a policy?

Once you sell your policy, you will no longer be responsible for paying the premiums on the policy. A provider and/or institutional investors to whom you transferred (sold) the policy will be making the premium payments.

Will I be taxed on the money I receive from selling my life insurance policy?

In some cases the payout of this transaction may be taxed. Please consult your professional tax advisor of how selling your life insurance policy may affect your taxes.

At no charge to you, we will provide a confidential appraisal of your policy. Please call us or complete and submit our simple appraisal application, and we will begin immediately.

There is never any cost, obligation, or medical exam required for you to unlock the hidden value in your life insurance policy.

*IN TEXAS, D/B/A LAG SETTLEMENTS, LLC (See also Important Limitations in Texas)

Life Asset Group, LLC and/or Gary E. Brecka, as an individual, are licensed as a life settlement broker or viatical settlement broker in the following regulated states.

Gary E. Brecka, individually, can broker a life insurance policy owned by a resident of the following states: AR, CO, FL, GA, HI, IN, KS, KY, LA, MD, ME, MS, MT, NV, NC, NJ, OK, PA, TN, TX, UT, VA.

Life Asset Group, LLC, as a licensed entity, can broker a life insurance policy owned by a resident of the following states: AR, CT, FL, HI, LA, MD, ME, NV, NJ, OH, OK, PA, TX*, VA.

Depending on the medical condition of the insured, Life Asset Group, LLC and/or Gary E. Brecka, as an individual, may or may not be able to broker a life insurance policy owned by a resident of the following states: CA, DE, IL, MA, MI, MN, NM, NY, OR, VT, WA, WI.

Life Asset Group, LLC and/or Gary E. Brecka, as an individual, may broker a life insurance policy owned by a resident of the following states that are not regulated and do not require licensure: AL, AZ, DC, ID, MO, NH, RI, SC, SD, WY.

Life Asset Group, LLC is in the process of becoming licensed in the following states: AK, IA, NE, ND, WV, PR.

*IN TEXAS, D/B/A LAG SETTLEMENTS, LLC

This Compliance Notice is current as of August 26, 2008 and is subject to change.