How long does the process take?
Two weeks could pass to close some
transactions. Because other transactions
include the purchase of new life insurance,
the time for funding could extend to four to
six weeks.
Do I need perfect credit to qualify?
No. Perfect credit is not required, good
credit is.
Do I need to own a home to qualify?
No. Home ownership is not required. In fact,
stable renters are often strong qualifiers.
Why isn’t the amount of money paid to me equal
to eight years worth of payments for an eight
year contract?
The lump sum received by the pensioner is
substantially less than the total payments
received over eight years. Current dollars
are more valuable than future dollars. Just
like lottery winnings, a winner can collect
all of his money over twenty years, or
approximately 50% of the total amount at the
time of winning.
What happens to the COLA (Cost of Living
Adjustment) annual increases?
All COLA
payments are returned to the pensioner
electronically.
Can a relative or other person act as sponsor or
guarantor?
In some cases, US PENSION FUNDING has
accepted a guarantor when the applicant did
not meet the qualifications of the program.
Strong credit and stable financial history
are mandatory for a pensioner as well as a
guarantor.
Are there ways to repay the loan early?
This program is not a loan. Early repayment
is not an option. The program is a contract
for which time is committed by the funding
sources. Therefore, the contract exchanges a
lump sum of cash for a commitment to pay
future payments when they are received, for
a specific period of time.
Does US PENSION FUNDING reflect this as debt on
an individual's credit report?
No
Can I use existing life insurance to meet the
insurance requirement, or must new insurance be
purchased?
Any good insurance policy is acceptable even
if it has been in place prior to the closing
of this transaction. If you currently do not
have insurance, then low-cost coverage is
available.
Are there any age limitations?
None at all. Only the cost of the required
life insurance, which is part of the
pensioner’s costs, impacts the economics of
the transaction; if insurance is already in
place and the economics of the transaction
still appeal to the pensioner, any age will
be accepted.
Is there a minimum pension amount?
Yes, $400 per month or $4,800 per year NET.
What types of pension do you purchase?
We provide financing for most pension types,
typically they would included Military,
Civil Service and Corporate pensions.
Exceptions are Social Security and VA
pensions of any kind.
Do I currently have to be retired?
In all instances you must be retired. For
retired military, we require six months of
retirement. However, we occasionally will
consider military pensioners with less time
out of service, as long as there is
stability in employment.
