Even though the life settlement industry is still in its infancy, major changes and improvements are on the horizon. Up until now, business has been traditionally geared toward larger policies worth at least $250,000, with an average underwriting time per transaction of at least 45-90 days. But a revolutionary new, streamlined process known as CSF is going to open up a new world to brokers, agents and planners who have clients with life policies that are no longer desired or necessary. CSF will allow insurance professionals to tap into the vast market of smaller cash value and convertible term policies in force. Four out of every five policies in force in America have a face value of $250,000 or less, and these are ideal targets for CSF business. Although the patent is still pending on the CSF underwriting process, this breakthrough turnkey underwriting process will effectively reduce the time between case submission and approval from approximately 45-90 days to a maximum of 10 business days. Of course, this innovation will benefit clients immensely as well, as it will allow thousands of life policyholders in the lower and middle classes to receive generous sums of money from their current contracts. The proceeds can in turn be used for more immediate needs, such as retirement planning or long-term care. The CSF settlement process is quite simple:

1. A policy is submitted to a CSF-networked life settlement provider along with the proper documentation.

2. The provider reviews and evaluates the application. Upon approval, a conditional offer is made to the client within 5 to 10 business days.

3. After the client accepts the offer, the agent will receive and process the necessary paperwork for policy transfer. The client’s medical records may be necessary in order to complete this step.

4. The agent is paid his or her commission after the 15-day recission period has expired.

The CSF process promises to provide a much more profitable solution for those who own whole, universal or convertible term life insurance that they no longer want or need. Instead of having to settle for lapsing the policy or merely receiving their cash value, they can now receive a profitable settlement in a timely and efficient manner.