Life Settlement Company

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Life Insurance Settlement Submission Criteria

Acceptable policies should be:

- Issued by a United States registered life insurance company carrying an A.M Best credit rating of B++ or higher

- Whole life, Universal Life, Convertible Term (must be converted to UL before settlement). Joint and Survivorship UL, if one of the Insured’s is deceased

- We cannot accept Variable policies at this time

- Supplied by a person (the "supplier") who is licensed in the state where the policy is issued

- Beyond the contestability period

- NOT be premium financed (Please confirm this with your case submission)

- Unencumbered by loan and have clear title

- Insured should be over 65 years

- Face Amount Limits - $50,000.00 and upwards – per Life

REQUIREMENTS

Illustration Requirements

- Illustrations should be provided on the basis of minimum no lapse premiums, over a period to maturity. Policies should be illustrated with any No Lapse Protection or similar riders removed (illustrations must show account values)

- Illustrations should be no more than 90 days old

LE Requirements

- Average LE should be between 36-120 months
- LEs should be no more than 90 days old
- Acceptable Life Expectancy providers are:

	21st Services	AVS	EMSI
	Fasano	ISC Services

- In some cases, we can obtain an LE through our Internal Underwriter, via a telephone interview. (See LE submission chart below). This is an invaluable service that can provide a fast turnaround not always available from other Life Expectancy Providers.

LE Submission Requirements

Policy Face Value	LE Requirement
$50,000 - $500,000	1 LE from acceptable provider. If no LE is available, we can obtain an LE from our Internal Underwriter (explained above).
$500,001 - Above	2 LEs* from acceptable providers. If only 1 LE is available, we can obtain a second LE from IBU.

*If the longer LE is 150% or more of the shorter LE, a third LE should be submitted

LSL does not accept policies in the following states:
Louisiana – Montana – Oklahoma – Texas - Virginia

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