Viatical settlements are lump sum cash payments for terminally ill policy owners in exchange for the death benefit of their life insurance policy. Viaticals are attractive to a seller who is in need of the cash value to help with the potential financial concerns of their final days.
The investor of the viatical pays a percentage of the face amount of the policy and in turn becomes the beneficiary of the policy. The percentage paid to the policy owner in viaticals will depend on the life expectancy of the insured in addition to the face amount and premiums necessary to keep the life insurance policy in effect.
The investor in the viatcial has the potential to make a large profit upon the death of the insured. With the advances in medical technology many insured’s are outliving the life expectancy meaning the investor will not make a large profit. The investors in the viaticals market need to have a diversified portfolio and do thorough verification of the life insurance in order to be able to make a fair offer.
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