When you have a terminal illness and a life expectancy of fewer than four years, you have much more to consider than paying monthly premiums for life insurance. You may want to take care of your medical bills now, so your family does not have to later. Even if you outright cancel your life insurance policy, you may not have the funds you need.
Viatical Settlements allow you to sell your life insurance policy for a better offer than the cash surrender value — the small monetary payout your life insurance company offers when you stop paying premiums. When you sell your life insurance policy, you receive a lump sum cash payment that you can use immediately.
How much you will get from a buyer varies for every policy. Settlement Benefits Association presents your case to buyers and helps negotiate the highest possible bid. We guide you through the settlement process and work with our reliable funding groups to give you the best deal possible on your life insurance.
When we evaluate your policy and begin negotiations for your settlement, we look closely at your policy and its benefits, along with other relevant records, such as your medical history. We gather as much information as possible to strategize and create a plan for you to get the most value from your policy.
Circumstances that may affect your policy worth include:
Anyone applying for a Viatical Settlement has health concerns, and the severity of these concerns can affect the value of your policy. Most often, the less healthy you are, the larger your settlement will be.
The more extensive your policy is, the more potential buyers will spend to purchase it.
Extensive policies do often come with extensive premium payments, and a higher policy cost can potentially bring down an offer.
Whatever your policy’s value, a Viatical Settlement can give you better financial options than letting your policy lapse and taking your cash surrender value. When you need the funds from your life insurance policy, turn to Settlement Benefits Association.
We streamline the process by taking on responsibility for the negotiations and paperwork. If you are ready to learn what your specific policy could be worth, contact us today for a free policy evaluation.