The life settlement process typically takes several weeks from the time you submit your application to the time you receive your payout. The exact timeline varies depending on how quickly documents can be gathered and how long buyers take to review your case.
Once the application is submitted, most policies enter an initial review period where the marketplace retrieves policy information from the insurance company and orders medical records. This usually takes one to two weeks. After that, buyers begin their evaluation, which may take another one to two weeks.
If your policy qualifies, offers are collected and shared with you. Once you accept an offer, the closing packet is prepared. These documents transfer ownership of the policy to the buyer.
After all signatures are complete and the insurance company updates its records, funds are released to you. In many cases, sellers receive their payout within 30 to 60 days. Some cases move faster, especially when documents are readily available.
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