FAQs

Your medical records are used to calculate a life expectancy estimate. That estimate is compared to an in-force illustration of your life insurance policy and a pricing model to see if the policy can yield a profit for investors. If so, a price offer is calculated from this information.

SLG is a servicer for life settlement portfolios for several life settlement funds. Your policy was likely sold to a fund which retains SLG to monitor your health status and reach out for updated medical record authorizations per the terms of your original life settlement transaction.

Many doctor’s offices and health care providers will not honor a HIPAA medical record authorization that is many years old, despite language in the authorization extending its validity. Also, some medical facilities like Kaiser Permanente, UCLA, the Mayo Clinic and others require their own specific medical record authorization to be signed and will not accept authorizations from a life settlement transaction. Therefore, SLG must contact you periodically to obtain newly signed and dated medical record authorizations.

SLG can buy Universal Life policies and some Term Life policies which are convertible to Universal Life Products. SLG does not currently buy Whole Life, Group Life Insurance, Survivorship policies where both insureds are still living, or Variable Universal Life policies.

Medical records are confidentially shared with life expectancy underwriters who determine a life expectancy estimate. This helps SLG understand how long you may live and how long premium payments would need to be made on your policy.

SLG typically looks at universal life policies where the insured is over 80 years old and also evaluates aspects of your policy to determine if it will make a sound investment.

Typical transaction times can range from a few weeks up to two months or more from the time of first submitting your information, and including time for negotiation, due diligence by SLG, and processing times from your life insurance company.

Once all due diligence is complete and life settlement contracts are signed, SLG will send in change of ownership and change of beneficiary forms to your life insurance carrier. When the ownership and beneficiary designations of your policy have both changed, then SLG will instruct the escrow agent to release purchase funds to your designated account.

SLG works with life settlement investment funds under common ownership to supply life insurance policies as assets. Any death benefit payment will be received by the investors of such fund. Your policy may also be sold to unrelated life settlement fund while you are still alive.

You are responsible for any premiums to keep the policy in force and out of grace status through the entirety of the life settlement transaction until change of ownership and change of beneficiary are completed. After that, you will owe no further premium payments on the policy.