Settlement Group

Settlement Process

Need Realized
Consumer realizes need -or- Advisor signals Need/Option to consumer.

Policy Owner completes settlement application.

SGI acquires supporting documentation, verifying insurance benefits and medical records.

SGI review to determine qualification and value of the policy.

Offer & Acceptance
SGI offer to purchase policy. Policy owner accepts or declines.

Purchase Agreement
If policy owner accepts offer, purchase agreement is provided to policy owner/advisor.

Change of policy ownership
Purchase agreement returned. SGI applies to life insurance company for a change of ownership of the policy. Money is deposited into an Escrow Agent’s account, and remains secured until the insurance company sends written confirmation of Ownership & Beneficiary changes.

Parties are notified by life insurance company that ownership of policy has changed.

Money is transferred to policy owner within 3 business days from receipt of written confirmation of changes by insurance company.