BuySellAnnuity, Inc.

If you are seking the services of a structured settlement company, contact two or three companies to make sure offers are competitive and to be aware of prevailing discount rates. (You can get a list of companies from the California Department of Insurance.) Check to see if the company is a broker or a funding company. A funding company actually buys your note or policy; a broker seeks a buyer for your note or policy. Do not assume that a broker will act in your best interest. They may steer you toward a company with which they have a relationship, but not necessarily the one that would give you the best deal. Brokers usually receive a percentage of the death benefit from the viatical settlement company. Don't give in to high pressure. If you do enter into a settlement agreement, remember that California law allows you 15 days from the date you executed the settlement to rescind it for any reason. Check with the California Department of Insurance to make sure the viatical settlement company or broker is licensed and to find out the status of the license. Verify that the investor or company has the money for your payout readily available. Some companies, especially smaller ones, may have uneven cash flows or may be "shopping" the policy to third parties. Ask the company to set up an escrow account with a reputable financial institution at the beginning of the transfer so you can be sure the funds are available to cover the offer.
Insist on a timely payment. No more than a few months should elapse from your initial contact with the company to closing.
Ask about privacy. Some companies may not protect a policyholder's privacy when they act as brokers for payouts from potential investors. Talk to your lawyer about possible probate and estate considerations