Protect Your Privacy and Enhance Your Financial Well-Being with a Policy Appraisal

This concise guide empowers consumers with key insights on safeguarding their privacy while they go through policy appraisal and life settlements. Here’s what you need to know about life settlement-related privacy concerns and how to address them:

Understanding Life Settlements

A life settlement involves selling your life insurance policy to a third party for a lump sum that’s typically greater than the policy’s surrender value (i.e., the money you would receive from the life insurance company if you chose to exit the policy early). As a life insurance policyholder, a life settlement can offer you financial relief and flexibility, especially if you’re dealing with shifting circumstances like retirement or unexpected medical costs.

During this process, safeguarding your privacy should be a priority — keep reading and we’ll explain why it’s important and how to do so.

Why Privacy Matters in Life Settlements

As part of the life settlement process, you will be required to provide personal information. You’ll want to ensure that your most sensitive info, including financial data and details about your health, remains secure. This ensures that this information can’t fall into the wrong hands, where it has the potential for misuse or exploitation.

Knowing that your privacy is protected, you can make informed and beneficial life settlement decisions without fear of disastrous outcomes like identity theft.

Educating Yourself About Privacy Concerns

Because life settlement-related privacy concerns are a crucial consideration, educating yourself on the topic will help you safeguard your personal info. Here are a few ways to do that:

  • Perform a policy appraisal before contacting any life settlement company. They do not require your private information.  They only need a copy of your premium schedule, or current in-force illustration, and a few quick health-related questions answered.  Always research reputable life settlement companies, carefully reading their privacy policies and, if possible, reviews from those who have done business with them.
  • Avoid using a broker if you want to keep your private information only between you and the purchasing company. Brokers send your personal information out to multiple companies and requests are made to your doctors for medical records and life expectancy reports.
  • Avoid disclosing more personal information than necessary.
  • Ask about the data handling procedures for all involved parties before proceeding with any transactions. On this topic, FINRA adds, “If your policy will be sold, ask to whom and whether the end buyers will have access to your personal information. If you use a life settlement broker, find out the names of the life settlement companies from whom the broker solicits bids, and ask about the privacy policies of all parties or potential parties to the transaction.”

If you’re at all concerned about your privacy or have any lingering uncertainties, you should consult a financial advisor and/or lawyer to explain your legal rights and protections.

Building Trust in the Life Settlement Process

Trust is one of the most important parts of any relationship, especially relationships that involve your finances and your personal information, as well as a decision as significant as a life settlement.

As you consider selling your life insurance policy, establishing trust with an advisor begins with ensuring your privacy and confidentiality. Before you proceed, make sure your information will be handled with discretion and in accordance with privacy regulations.

Open communication is also key to building trust. You should expect transparency throughout the entire process, from policy appraisal to evaluating potential buyers for your policy.

Protective Measures for Privacy

As you now know, safeguarding your personal information is an important part of the life settlement process. To protect your privacy, start by thoroughly scrutinizing all settlement applications and contracts to confirm that stringent privacy protections are included in every step of the transaction. This means your information should only be shared with authorized parties and should be used exclusively for the purposes you’ve agreed on in advance.

Ongoing privacy monitoring is also essential. Conduct periodic privacy reviews, proactively identifying and addressing any privacy risks as they arise. Protecting your privacy should be a non-negotiable part of your life settlement process from start to finish.


Follow this advice to protect your privacy during the life settlement process, securing your personal data while bolstering your financial future. If you’re considering selling your life insurance policy, you can reach out for more information here or call 844.932.8975 to speak to us directly. We’d be happy to answer your questions about how we protect your privacy, as well as just about anything else related to life settlements.