Unlike other contracts that you have signed in your life a viatical settlement contract can be reversed. The viatical settlement contract is regulated by the state in which the owner of the policy lives, but generally speaking most owners have fifteen days from the day they receive the money from the life settlement funder to reverse the sale of the policy.
The owner needs to read the viatical settlement contract carefully as well as find out the laws in their state regarding the rescission period that they are allowed before the sale is actually complete.
Although it does not happen often, some owners have second thoughts about selling their life insurance policy and they decide after the process has been complete to reverse the whole sale.
Having a life settlement broker that understands you and your needs can help you make this decision before all the work and effort has been done to sell the policy. If you have a life insurance policy that you no longer want or need click our LIVEpdq link now for a free no obligation policy evaluation.