LIFE SETTLEMENT CLOSING PROCEDURES

Upon receipt of disbursement instructions for a policy from the client, NorthEast Escrow Services will initiate the following steps to ensure that the closing of the Life Settlement arrangement is secure and smooth for all parties.

Contact the insurance company to verify the status of the policy and the premium schedule. If the client desires, NES will also check the policy specifications to ensure that the contract meets the standards set by the client (Insurance company ratings, death benefit stability, premium increases, waiver of premium provisions, contestability requirements, etc.).

*Confirm that the insurance company has properly executed ownership and beneficiary changes.

*Examination of documentation on the insured to verify that all tracking information is present and updated, and that all appropriate releases have been signed and returned.

*Review disbursement calculations provided by client to confirm accuracy.

*Disburse funds as instructed to all parties upon completion of due diligence for closing procedures.