Viaticals are cash settlements from the sale of life insurance policies to third party investors. At one time viaticals were an option only for people with a terminal illness such as aids or late stage cancer. Now people who are not suffering from a terminal illness may still sell their life insurance policies for a lump sum settlement greater than the cash surrender value of the policy.
Viaticals are settlements that can benefit the policy owner as well as the investors, but there are still many policies that do not qualify for a settlement. The policy owner typically is a senior age 70 or over with a life insurance policy of $500,000 or greater. A life expectancy calculation needs to be completed to see if a settlement offer can be made.
A policy owner needs to decide if they still need the life insurance protection and determine if other options are available to satisfy their cash needs. It is very important to speak with a professional in the settlement industry to evaluate the best possible option for your life insurance policy based on your specific needs. Please click on the link LIVEpdq for an evaluation of your life insurance plan.