What are Viatical Settlements?

Posted July 29, 2021 by viaticals

Learn about the benefits of viatical settlements and life settlements, and get your policy appraised before you take the next step.
Did you realize that you can sell your in-force life insurance policy for cash? A life insurance policy is your property and can be sold like any other asset that you own. The term for this type of sale is life settlement or viatical settlement. A viatical settlement purchaser offers a lump sum of cash in exchange for ownership and beneficiary rights to the policy and takes over responsibility for any future premium payments.

The funds you receive in a viatical settlement are typically not taxed. To qualify, individuals may be any age, but must have a life expectancy of two years or less. In a life settlement vs viatical settlement, the insured is usually age 65 or older and may have a longer life expectancy. The transactions are essentially the same, but a portion of the funds received in a life settlement is subject to tax.

In order to assign value to your policy, life settlement companies will look at existing medical records and insurance illustrations. There is no need for a medical exam and an appraisal is done at no cost to you. Viatical settlement companies will work with you to get you an offer as quickly as possible.

If you have recently been given a terminal diagnosis, the last thing you need to add to worry is financial stress. Where will you come up with the money to cover lost income or to pay for treatments not covered by your health insurance? Viatical.org provides educational information that can help you realize the hidden value in your existing life insurance policy.

To learn more about this valuable option, visit Viatical.org. Viatical settlements can allow you to utilize your life insurance policy while still living, allowing you to focus more on healing and spending time with loved ones and less on financial burdens.

About Viatical.org
Viatical.org is providing information about viatical settlements as an option to help with financial concerns at a time when needed the most.

Contact Details
Company Name: Viatical.org
Website: https://Viatical.org
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Issued By Viatical Org
Phone 1-800-973-8258
Business Address Nags Head
Country United States
Categories Banking , Finance , Insurance
Tags life insurance settlement , life settlement companies , medicaid life settlement , sell life insurance policy , sell life insurance policy for cash , selling life insurance policy , selling your life insurance policy , viatical settlements
Last Updated July 29, 2021