November 07, 2008 at 11:06 AM
Settlement SYNC, an arm of Big Blue Turtle Inc., says it has started a program that can arrange for the sale of some in-force life insurance policies in 21 days.
Policies eligible for the Express product must have a minimum death benefit of $500,000 and cover a client who is at least 65 years old, according to Settlement SYNC, New York.
The process will assign a designated cash value to term life policies submitted through the process, Settlement SYNC says.
The firm says it will give sellers $500 in cash when a seller’s term policy becomes eligible for a life settlement.
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