Kansas Life Settlements
Kansas residents between ages 65 to 85 who have a life insurance policy that they no longer want, need, or can afford may benefit more from selling their policy to licensed investors through a Kansas life settlement. A Kansas life settlement, like many states now, has specific regulations regarding the criteria met by consumers looking to trade their life insurance policy in the secondary market.
A Kansas life settlement requires dealing with a settlement broker or life insurance agent who is properly licensed to perform life settlement transactions in the state of Kansas. A life settlement has the potential to give a large cash settlement to the policy holder. However, prior to a life settlement cash offer, very crucial steps in the process are a life expectancy calculation of the current policy holder and a detailed review of their policy.
Upon review of your policy and calculation of continued life expectancy, a variety of personal information is transferred to your broker or agent. Kansas life settlement law is now protecting your personal information with an Open Records Act that contains a confidentiality agreement and careful record keeping of medical reports and settlement transactions. In addition to these clauses, documentation of an anti-fraud plan must be available for presentation to ensure your safety.