What We Have To Offer
The Referral Program
How To Get Started
The Viatical Agent Referral
Program Offers You:
Significant Income Potential
We offer a very competitive commission schedule, for you and your
Superior Client Tracking
We will ensure you receive accurate fees immediately after your
client's fifteen day rescission period expires. This ensures that
you would have no liabilities and your commission is non-retractable.
Mass Media Marketing Support
For over a decade we have marketed extensively to ensure awareness
of our services. This will help you also with name recognition
as you market viatical and senior life settlements.
Viatical & Senior Life Settlement
In most large states in the nation, viatical and senior life settlement
transactions require licensing. We maintain the required licenses
for safe and legal transactions.
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By working with Individual Benefits, you can be assured of a satisfied
client. We are proud of our impeccable reputation in the viatical
and senior life settlement industry.
To Implement Your New Found Product
The best way to approach the viatical and senior
life settlement business is to do what you are best suited for:
establish business relationships. As with any business you need
a source for your product, a center for operations and an effort
to reach the consumer. With Individual Benefits at your side, the
sourcing and operations function is performed by a professional,
well established firm. All you need to do is prospect.
More and more people are becoming aware of viatical and senior life
settlements. The communication task is to inform as well as to motivate
members of your business network. Networking in this field is very
The following is a short list of the criterion for life insurance
settlements in general. We suggest that you create a link to this
page to quickly answer many of the most important questions about
life insurance settlements.
Insured Senior Citizens
Seniors represent the fastest growing demographic in the nation.
Insured seniors are often willing to consider exiting their premium
obligation in exchange for an acceptable settlement.
The most efficient way to assist these insured seniors is through
networking. Seniors often revise their assets holdings, including
the amount and need for life insurance coverage, with an Estate
Planner and /or Attorney. Retiring businessmen often have large
key-man life insurance policies that are no longer needed.
Life insurance agents can network with other agents to determine
which policyholders may fit the age and health criteria necessary
to qualify for a senior life settlement. A senior must be at least
65 years old with a life shortening condition or, if relatively
healthy, at least 76 years old.
Insured Terminally-ill Patients
Each year two million Americans are diagnosed with a terminal illness,
even more have chronic illnesses.
Generally these illnesses are financially devastating and will eventually
keep people from being able to work. But still the every day expenses
have to be paid.
The best way to contact terminally-ill insureds is through networking
with support groups, employee benefit administrators, medical support
personnel and insurance agents. Insurance agents often become aware
of the insured's situation when their premium payment falters or
when they are approached for information on financial help.
Give us a call. That is all you need to do to begin. We will take
it over from there. It's really that simple.
If you are interested in marketing our product, we will train you
and supply you with all materials and know-how. We will also supply
you with easy registration forms so that we can track your commissions
and ensure that you are the sole supplier of our services to your
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Where Would You Market Our
Our product is a perfect addition for any employee
benefit outline, and you can offer it free to any benefit administrator.
All you do is make the information available to the benefit administrator.
Estate Planning Professionals
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The Viatical Settlement:
A Tax-Free Option
The Health Insurance Portability Act went
into effect January 1st, 1997. Viatical settlements which closed
after that date qualified for a federal tax exemption. There are
two main stipulations to qualify. First, the viator has to be
certified as terminally ill with a life expectancy of 24 months
or less at the time of the transaction. Second, if a viator's
state of residence requires the purchaser to be licensed, only
transactions performed by licensed purchasers will be tax free
to the seller.
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To Get Started
All you need to be able to offer life insurance
settlements to your clients is to partner with a firm like Individual
Benefits. Since 1992 Individual Benefits has helped thousands
of individuals with the sale of their life insurance policies.
Currently holding 18 viatical and senior life settlement licenses,
Individual Benefits is your best conduit for legal, safe and successful
settlements. For more information about Individual Benefits, please
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The process begins when an agent of a policy
owner contacts us and requests information on viatical or senior
life settlements. Along with information, we will mail a settlement
application and medical and insurance information release forms.
Once the agent feels comfortable with our company, the viatical
or senior life settlement process will begin when the policy owner
returns the requested information. We will then verify insurance
coverage, request medical records and prepare a case file to present
to potential viatical or senior life settlement investment firms.
This initiates the underwriting process. It is our responsibility
to provide the most complete case information to the different
investment firms so that they can make a fair and educated offer.
Once an offer has been given by a purchasing company, we will
notify the agent. If the offer is accepted, we will notify the
purchasing company of the seller's decision and begin the closing
The purchasing company then prepares a settlement contract stipulating
the agreement reached with the viator (seller). Along with this
purchasing contract, the seller will receive the insurance policy's
change of ownership and beneficiary forms.
Once the purchasing company receives the completed settlement
contract and the signed insurance forms, an escrow account is
created with the settlement amount. For the seller's protection
the transaction is always conducted through an independent third
party escrow agent.
If all the required paperwork has been completed and received
by the appropriate parties, the escrow agent will release the
settlement funds to the viator within three business days of receiving
the recorded change of ownership and beneficiary forms from the
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