How to Sell a Structured Insurance Settlement
Know the current cash value of your structured insurance settlement., Choose a list of companies to which you want to sell the structured insurance settlement., Obtain several quotes from the companies remaining on your list., Select the best...
Step-by-Step Guide
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Step 1: Know the current cash value of your structured insurance settlement.
You have 2 options to calculate its present value.
Contact a financial adviser.
The adviser calculates the amount of inflation from the date you're meeting with him or her to the time that the settlement is paid off.
You can use a current value calculator found online at websites.
Input the requested information to find out the current value. -
Step 2: Choose a list of companies to which you want to sell the structured insurance settlement.
You should narrow the list down to 3 or 4 companies.
Investigate different companies that buy structured insurance settlements.
Look for reputable companies that specialize in buying structured settlements.
You can search for them online, consult your financial adviser or ask friends.
Eliminate any companies that don't have a good rating with business organizations such as the Better Business Bureau (BBB). , You have 2 options.
You can choose to complete the companies' online forms to receive quotes.
You can call the customer service representatives from each company to receive quotes. , Choose the quote based on your financial needs, value of the return and price.
Tell the company that you want to move forward with selling your structured insurance settlement.
Once the company receives the go-ahead, it sends you a contract. , Talk with a lawyer specializing in structured settlements about the quote.
Go over the agreement to make sure the contract is properly worded.
See if there are any tax consequences, such as the creation of tax liabilities, when you accept the settlement. , Sign the contract to sell your structured insurance settlement.
Return it to the company.
You will receive a check once the contract is approved. -
Step 3: Obtain several quotes from the companies remaining on your list.
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Step 4: Select the best quote.
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Step 5: Consult with a lawyer.
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Step 6: Accept the offer.
Detailed Guide
You have 2 options to calculate its present value.
Contact a financial adviser.
The adviser calculates the amount of inflation from the date you're meeting with him or her to the time that the settlement is paid off.
You can use a current value calculator found online at websites.
Input the requested information to find out the current value.
You should narrow the list down to 3 or 4 companies.
Investigate different companies that buy structured insurance settlements.
Look for reputable companies that specialize in buying structured settlements.
You can search for them online, consult your financial adviser or ask friends.
Eliminate any companies that don't have a good rating with business organizations such as the Better Business Bureau (BBB). , You have 2 options.
You can choose to complete the companies' online forms to receive quotes.
You can call the customer service representatives from each company to receive quotes. , Choose the quote based on your financial needs, value of the return and price.
Tell the company that you want to move forward with selling your structured insurance settlement.
Once the company receives the go-ahead, it sends you a contract. , Talk with a lawyer specializing in structured settlements about the quote.
Go over the agreement to make sure the contract is properly worded.
See if there are any tax consequences, such as the creation of tax liabilities, when you accept the settlement. , Sign the contract to sell your structured insurance settlement.
Return it to the company.
You will receive a check once the contract is approved.
About the Author
Larry Hayes
A passionate writer with expertise in hobbies topics. Loves sharing practical knowledge.
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