A life settlement is a financial transaction in which a policyholder sells their life insurance policy to a third party in exchange for a lump sum cash payment. The buyer becomes the new policyholder, taking over premium payments and receiving the death benefit when the original policyholder passes away.
Complete the form.
You owe it to yourself to see if you qualify for a life settlement.
Talk with us.
One of our Relationship Managers will reach out to collect some additional information.
Get your offer.
If you qualify, we’ll offer to buy the policy.
Many seniors are unaware that they can sell their life insurance policy for cash if they no longer need or want it. This process, known as a life settlement, allows you to use the proceeds for medical expenses, retirement, long-term care, or any other needs.
Typically, a life settlement takes about 3-8 weeks to complete. Baric refers qualified policies to one or more licensed buyers. During the diligence period, the provider will request health information. Once an offer is made and accepted, you must transfer the ownership and beneficiary of the policy. The buyer then funds the settlement offer into an escrow account, and the purchase price is released to you once the insurance company confirms the change of ownership and beneficiary.
Baric streamlines the life settlement process for consumers. We start by asking you several questions to determine if you are a suitable candidate. If your policy qualifies, we connect you with one or more licensed buyers who will evaluate your case and potentially present an offer for your policy.
Plan for and fund your retirement
Reduce your expenses
Cover healthcare and long-term care expenses
Age 65 or older
A life insurance policy of $100,000 or more.
The premium costs should be manageable by the buyer.
All types of life insurance policies are considered
A change in health.
Leading Network of Buyers
No 3rd Party Broker Fees
Fast and Efficient Execution
Transparency & Concierge Service
Privacy & Security
Prepare for and finance your retirement.
Leverage the cash payout from a life settlement to reach your retirement goals.
Reduce your expenses
Transform an unaffordable or unnecessary policy into cash with a quick and easy process.
Cover healthcare and long-term care expenses
Cover healthcare and long-term care expenses without draining your retirement savings.
1. Receive Immediate Cash: At the time of the sale, you will receive a cash payout. Various types of policies, including Universal Life, Whole Life, Term Policies, and Variable Policies, can qualify for a life settlement.
2. Cease Premium Payments: You will no longer be responsible for paying premiums on the life insurance. The new owner of the policy will take over the premium payments directly to the insurance company.
3. Policy Coverage Ends for You: Once the policy is sold, ownership transfers to the buyer. After the insured person passes away, the buyer will receive the death benefit from the insurance company.
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