Using a Viatical or Life Settlement Broker |

Using a Viatical or Life Settlement Broker

Considering a life insurance settlement? If so, you should understand the important role a viatical settlement broker or life settlement broker plays and why you should use one. Selling your policy without a broker isn’t like selling your house on your own. Using a life settlement professional is always recommended, which we’ll go over below.

Viatical or Life Settlement Broker

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Why Use A Broker?

The knowledge and resources to pursue a Life Insurance Settlement are challenging. Unless a policy holder has extensive financial & insurance experience, it is recommended to seek the help of a licensed settlement broker to assist in the process of smoothly selling your life insurance policy for the most money possible.

1. Approaching buyers direct is possible but reduces the opportunity to receive a competitive offer. Brokers have connections with major life settlement buyers including funds & private buyers who all are interested in different types of policies.

2. Contracts and Carrier forms can be completed as quickly with a broker.

3. Higher offers with a broker since it would be unlikely as many buyers would see your policy and less likely you receive the highest cash offer possible without a settlement broker.

What's the Difference?

Life Brokers vs Viatical Brokers

Life settlement & viatical settlement brokers are the same exact professionals with the same licenses. The only difference is, the terminology used for which settlement process the client qualifies for, although some states only use the term “viatical” in their regulation language.

Life Settlement Broker

Life Settlement Broker

When a person qualifies for a Life Settlement.

Viatical Settlement Broker

Viatical Settlement Broker

When a person qualifies for a Viatical Settlement.

Brokers Vs Providers

Similar to life settlement Brokers, Providers have networks of buyers, however, are primarily involved in closing life settlement transactions. Brokers will send cases to multiple Providers as well as other institutional & private buyers. The advantage of working with a Broker is your policy will be shopped to more buyers, and if a Provider is necessary for closing the Broker will have a relationship already established to move forward quickly.

Understanding Who The Life Settlement Broker Represents

Your Broker Works For You

Just like any other broker a life insurance settlement broker represents his or her client. The client would be the policy holder who is pursuing to sell their life insurance policy.

What Does A Settlement Broker Do?

There are many tasks involved in pursuing & completing a   settlement. From gathering and understanding the required contracts/information, obtaining offers from buyers, to a smooth and quick closing. The use of a life or viatical settlement broker makes this tedious process easier, and possible for policy holders. If you have reached retirement, why go back to work when a broker is available to handle everything, including:

Your broker will have historical insight into pricing and will help you set realistic settlement expectations.

Your broker will manage offers as they come in and help guide you in determining what the best offer is and negotiate a better offer on your behalf.

Provide back office support that will order medical records and carrier illustrations (Often it can take several attempts to retrieve complete medical records & appropriate carrier documentation).

Your broker, along with their back office, will manage requests & questions from these buyers.


Your broker will send the gathered medical & policy information to as many potential buyers as possible.

The broker, if an offer is accepted, will help ensure the proper contracts are generated that comply with applicable regulations.


The broker will assist you in closing the sale of your life insurance policy.

Finding The Right Broker

With years of experience in the life insurance settlement industry and personal relationships with top brokers from around the country, LIS Guide can connect you instantly with a broker licensed in your state. These are life settlement brokers with track-records of obtaining significant cash offers for policy owners.

Life Insurance Settlement Guide Broker with clients