Viatical Settlement Disadvantages
The positives of a viaitical settlement or a life settlement out weight the negatives, however just like anything, there can be a few disadvantages.
Receiving a lump sum cash settlement can make you more vulnerable to creditors who already have outstanding judgments against you.
Cashing in your life insurance policy can also affect your eligibility for public assistance programs, such as:
* Medicaid
* Supplemental social security income
* AFDC (Aid to Families With Dependent Children)
* Other supplemental programs, such as drug purchase assistance programs
Cashing in the death benefits under your insurance policy may also impact on insurance benefits for other family members, so it�s a good idea to read your policy carefully and make sure you understand all the consequences of making a viatical settlement.
Due to the potential legal, tax and other financial considerations, it�s important to consult a lawyer and tax advisor before making a viatical settlement.
Life Settlement Pro would be glad to answer any settlement related questions or inquiries, please call us toll free at 1-888-973-8377 or email us. Thanks
