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First Day
All application paperwork is
received by Ideal. This includes a completed
application, copy of the insurance policy, copy of
photo ID.
Immediately we begin our medical and
insurance underwriting process. We request both
medical records and perform a verification insurance
coverage.
Week 1-3
Continue to perform underwriting
process. This process time varies depending on how
long it takes your doctors and insurance company to
complete our requests for required information.
(To speed up this process, you can
submit your medical records with your application.
If done it can reduce the time frame by half or
more)
Week 3-5
We negotiate with all the applicable
funding companies to obtain the highest offer
available.? After negotiations, we present the
highest offer available to the client. (This offer
can be accepted or denied, there is no obligation.)
Once accepted: Closing Documents are
sent to the policy owner and the settlement funds
are placed in escrow
Payment of Settlement
Funding company receives written
verification of policy transfer from the insurance
carrier.
Settlement funds are released within
24-72 hours.
This can vary depending how long it
takes for you to send back closing papers and your
insurance company to confirm the transfer of policy
ownership.
Throughout the entire process you
will be in contact with your dedicated agent, who
will be able to answer any questions you have.
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