Often times, people mistakenly believe they cannot sell the non-guaranteed portion of their structured settlement. Many companies will not purchase them, but Fairfield Funding will. While it takes a bit more time to complete the process it can definitely be done. Now, there are several factors that will affect how much you receive, but in tough times like these it’s always wise to know all your financial options.
There are two separate paths we can pursue to get you money for your non-guaranteed payments. Let’s review them separately.
The first option involves purchasing a life insurance policy. We will purchase a term life insurance policy. This means we will help you get a life insurance policy through the last payment we purchase from you. The cost of the insurance policy comes out of the proceeds. However, there is a HUGE benefit to getting this policy. Whatever amount of money we receive from the payments we have purchased, will go to your beneficiaries should something unfortunate happen to you. Since these are non-guaranteed payments, if were to die without this, your family would receive nothing. In effect, this gets you money now, and can help your loved ones later should you pass away during this time.
Since we are getting you a life insurance policy, you will have to be willing to give a blood and urine sample to a medical screening company. The entire process of acquiring a life insurance policy can add about a month to the process.
The second way in which we can purchase non-guaranteed payments is buying them uninsured. This will cost you more as we are taking a very big gamble. Should anything happen to you during the time we are receiving the payments, we will not be able to recover our full investment. Because of this it is more expensive than the other option, but if you are not able to get life insurance it still provides an option to get you much needed money.
Being that we are not purchasing a term life insurance policy, the process moves at about the same speed as buying guaranteed payments.
If you are past the window of guaranteed payments, Fairfield Funding gives you two options to still get money now from your structured settlement payments. We look forward to assisting you!