Viatical brokers are individuals who negotiate viatical settlements on behalf of an individual who wants to sell their life insurance policy in a viatical life settlement transaction. Viatical brokers may negotiate with one or many viatical settlement providers and will work to negotiate the best possible offer for the seller or viator. At the completion of the viatical settlement transaction the broker will take a commission or other form of payment.
A viatical settlement is when a terminally ill individual chooses to sell an existing life insurance policy to a third party for a cash lump sum. The purchaser then becomes the new owner of the policy, and the viator can do as they wish with the lump sum settlement.
Viatical brokers should give prospective clients references so their clients can become educated on the process and know what to expect. For access to experienced brokers and advisors, please visit us at LIVEpdq.