Non-Profit Organizations

Life Insurance Settlements was incorporated with the following in mind:

• To help individuals sell their life insurance policies in the most efficient way, while obtaining the highest possible cash settlements.
• To provide a simple application process, after which Life Insurance Settlements confidentially obtains all relevant medical records and insurance information.
• To negotiate the highest settlement amount, while taking care of all settlement details and ensuring that the purchaser has the cash available to close the purchase in an expeditious manner.

Life Insurance Settlements has expanded these services to nonprofit organizations:

• To work directly with the Chief Development Officer or his/her designee as a consultant to review gifts of life insurance contracts owned by the nonprofit organization.
• To determine which contracts might qualify for a life settlement and advise the Chief Development Officer or his/her designee on the appropriate procedures to initiate the settlement process.
• To negotiate the highest settlement amount for the nonprofit (owner) of the contract, while taking care of all settlement details. In addition, LIS will ensure that the purchaser has the cash available to close the purchase in an expeditious manner.

Why Life Insurance Settlements?
Our experienced staff have helped hundreds of individuals over the age of 65 obtain the highest dollar value possible on life insurance, that was purchased for an important reason which might no longer exist. We have applied that same simple logic to the nonprofit world where organizations like yours own life insurance. The sale of that asset today might be more beneficial than waiting for the donor to pass away. The policy may be in danger of lapsing because the donor no longer chooses to pay the premiums and the nonprofit organization may be forced to use its own precious funds to meet the premium costs.

Will LIS contact the donor directly?
LIS recognizes the importance of the relationship between the nonprofit organization and its donors. Therefore, it will not contact a named insured (donor) whose gift of life insurance might qualify for a life settlement. All contact will be with the chief development professional or his/her designee. If certain information like medical records are needed in the application process, LIS will first notify the nonprofit organization and have the information secured by the nonprofit. Or LIS may obtain permission to contact the named insured solely for the purpose of obtaining the information.

LIS’s role is very much like the real estate broker in a real estate transaction - its consultants do all the support work on behalf of the seller and provide the nonprofit organization the absolute highest and best price for the asset. However, unlike the real estate broker, LIS’s fee is not paid by the seller, it is paid by the buyer. There is absolutely no cost to the nonprofit organization for any of LIS’s services.

*Only Viatical or Life Settlement Brokers are eligible to receive any compensation or E&O coverage in the State of Louisiana & Texas.

†The purchase price obtained by viators ranges from 12-24% of the face amount of a qualified life insurance policy when submitted to Life Insurance Settlements Inc. in 2006.