Best Life Settlement Companies

Coventry conducted the first life settlement transaction and has become the industry’s biggest life settlement provider. The company’s size, long-standing reputation, and industry accolades make it the best choice. The Fort Washington, Pennsylvania-based company has a history of advocating for life settlement regulation.

You can start the life settlement process by submitting a questionnaire, authorization, insurance carrier illustrations, and your past five years of medical records. The company also completes a background check to prevent fraud. Coventry offers a retained death benefit, allowing you to keep part of your policy’s payout after you stop paying premiums.

To qualify, you must be at least 65 years old and your policy’s death benefit must be at least $100,000, and your life expectancy can’t be more than 20 years. The exact payout depends on variables like your health, the type of insurance policy, the policy’s premiums, and more. Coventry doesn’t charge a brokerage fee to policyholders.

Abacus Life Settlements is one of the fastest-growing life settlement providers, with 18.5% growth over the past year. Founded in 2004, the Orlando, Florida-based company is our top choice for speedy quotes and fast life settlements. The company beats the competition for fast quotes and sales with artificial intelligence to expedite the underwriting process. The company was named as one of the top life settlement providers of 2020 by The Deal. 

You can start the life settlement process by completing Abacus’ one-step qualifier, which provides a fast quote through the company’s website. You also may accomplish the same thing by calling their team. Formal offers are presented within 14 to 21 days. Money arrives in 21 days or less after accepting.

Abacus is looking for customers in their mid-to-late 70s or individuals with poor health. Most life insurance policy types are accepted with the exception of standard term life, but convertible term is accepted. Policies must have a death benefit of at least $100,000. To determine your payout, Abacus considers your policy type, face value, age, and health status. Abacus’ website says it typically pays six to eight times your policy’s cash surrender value. The company’s average payout is 23.3%.

Magna Life Settlements is another industry leader with extensive resources for customers, making it the best for client education. The company is based in Austin, Texas, and has been around since 2004.

To start the process, you can use Magna’s free life settlement calculator to get a quote. There’s a complete walk-through of the process, start to finish. The company utilizes a number of fraud prevention tools.

To qualify, you must be at least 65 years old or have a major health issue. Your life insurance policy must be universal, term, or whole life with a death benefit of at least $100,000. To price the policy, Magna considers your premiums, structure, and type of policy, health, and medical history.

Q Capital Strategies was founded in New York City in 2004. The company’s team boasts more than 50 years of experience in life insurance and life settlements—and leverages technology to stay ahead of the competition.

To start the process, you may get a quick quote through the company’s website. You can learn more about the process through Q Capital’s website where it is laid out in detail. The company has in-depth confidentiality, security, and anti-fraud protocols, but still manages to complete sales in four weeks or less.

You must be at least 60 years old to qualify, with a life expectancy between two and 15 years, and death benefit of $100,000 to $10,000,000. The company will accept most types of life insurance but says universal life, survivorship, whole life, convertible term, indexed life, and variable life are most common. To determine your payout, Q Capital considers your age, medical condition, type of insurance policy, rating of your insurance company, and premiums. Like the other providers, there isn’t a brokerage fee for policy sellers.