Viatical Settlement

Individuals have been selling or trading their ownership of life insurance policies since the very beginning of the insurance industry. This, however, was a relatively unknown practice until the AIDS epidemic heightened in the late 1980's. As insured's stricken with the disease learned that there was a living value to life insurance, the Viatical Settlement Industry was born.

Viatical Settlement Benefits

• Immediate Cash to Ease Financial Burdens
• Additional Money to Compensate for Loss of Income
• Relief of Monthly Premium Expenses
• Settlement Income May Be TAX-FREE
• Funds to Seek Treatments Not Covered by Health Insurance
• Funds to Pay off Debts Now, Instead of Burdening Family Members in the Future

Viatical Settlement Definition

A viatical settlement is the sale of a life insurance policy or certificate (hereafter referred to as policy) issued on the life of a person, who has a catastrophic or life threatening illness or condition that is likely to result in death within 84 months, for a dollar amount that is less than the policy's face value. The person with the catastrophic or life-threatening illness or condition who is insured under the policy is called a viator. This person may or may not be the owner of the policy. Only the owner of the policy has the right to sell the policy. If you do not own the policy, the owner cannot sell the policy without your consent. The entity that buys the policy is called a viatical settlement provider (hereafter referred to as provider), additionally, there are persons called brokers or provider representatives, who help with the sale of the policy. A viatical settlement offers you the opportunity to receive a portion of your policy�s death benefit while you are still alive, giving you a chance to ease the financial stress that sometimes goes with an illness or condition.

How Viatical Settlements Work

Most providers, provider representatives, or brokers will ask you to complete an application and medical release forms so that they can gather information from your life insurance company and your doctors. All information gathered must be kept confidential and cannot be given to anyone without your written approval. If you qualify, the provider will make you an offer for your policy. The amount offered for your policy will be based on facts such as how long you are expected to live, the amount you pay for premiums, the rating of your insurance company, and your policy�s provisions (e.g., a waiver of premium). If you accept the offer, you will be asked to sign a viatical settlement contract.

Start a Viatical Settlement

Life Settlement Pro is a fully affliated viatical settlement broker. We can provide a no cost, no obligation, and confidential appraisal of your policy. This evaluation will be able to determine if you qualify and the potential payout you can receive. Please use our online evaluation form or call one of our viatical settlement professionals toll free at 1-888-973-8377.

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