A viatical settlement might be just what you need if you have recently been diagnosed with a life threatening illness and have insurance policies that you no longer need. It is possible to get a great deal more cash than the surrender value or through conversion of your insurance policy to a paid-up policy with a lower death benefit, which lowers the amount you can sell the policy for. Your insurance provider may recommend these options to you, but you will want to at no cost consult with a viatical Broker before you make any decision.
A viatical settlement is typically for someone who has a short life span…usually someone who is in ill health and has existing life insurance. If medical bills are mounting up, and savings are starting to dwindle this type of transaction can be a financial lifesaver. Viaticals are when a policy is sold to a third party. The new owner becomes the policy’s new beneficiary, and you receive a cash amount on the face value of your life insurance policy, enabling you to seek the medical assistance you or a loved one needs that you may not otherwise be able to afford. An insurance broker who specializes in these types of settlements should handle this type of transaction.
If you are struggling financially and would like more information on what viaticals and they can benefit you, please click on the LIVEpdq link at the top of the page.