A Viatical Settlement is an agreement in which an insured person that has a terminal illness can sell their life insurance policy to receive cash. If desired, they can also donate their life insurance policy.
The following are common questions regarding Viatical Settlements. If you do not see the answer to your question, please contact us at 888-255-0444.
A Viatical Settlement is an agreement in which an insured person that has a terminal illness can sell their life insurance policy to receive cash. If desired, they can also donate their life insurance policy.
We are committed to upholding strong ethical standards, providing excellent client service, and securing the highest offers. Our appraisal services are obligation-free and offer the best way to understand the actual value of your life insurance policy. Our team is also happy to work with your financial advisor, personal attorney, insurance agent, or family member.
Most Viatical Settlements pay from 10% to 25% of the policy’s value depending on the policy owner’s life expectancy. The first step is to complete a request form and submit it to us. We have relationships with more than 20 Life Settlement providers. We will bring your file to the entire marketplace to increase offers. You do not have to submit multiple applications.
It takes six to eight weeks to complete the appraisal. We need to gather information from your doctor and insurance company after you submit your form.
You can receive your cash settlement in several ways. There are no restrictions on how you use the funds you receive. Generally, our clients use the compensation for medical and living expenses.
The investment firm that purchases your policy is responsible for premium payments. Your tax obligations will vary, and we encourage you to consult with your tax advisor or explore our Visual Valuator for an estimate.
Yes, there are no restrictions to how you spend your settlement proceeds. It is essential to keep in mind the tax obligation on your settlement. We invite you to use our Visual Valuator to estimate potential taxation costs. Your tax professional can help you with your specific situation.
Depending on your situation, we may expedite your Viatical Settlement, so you receive funds in a few weeks. The most time-consuming aspect is often procuring complete medical records from providers.
At Settlement Benefits Association, we are passionate about helping you maximize the value of your life insurance policy. To learn more about how we can assist with the Viatical Settlement process, contact us online or call our team at 888-255-0444 today.
