Concerning the subject of viaticals, first lets define terminal illness. A widely accepted definition is a malignant disease that can not be cured or adequately treated. In the life settlement arena an insured having this type of illness trying to sell his or her policy, would be categorized as viatical client. Viaticals are treated perhaps differently depending on the state in which the policy was written in. Regulations to protect the consumer or seller are usually more precise concerning viaticals in that obviously someone in this condition could be more exposed to fraudulent or abusive tactics. This type of life settlement is valued for offers by providers or funders in the same way as perhaps a more healthy person. A life expectancy report will be a critical piece in defining a value for settlement purposes. This is a wonderful option to a critically ill person to obtain much needed cash in many instances verses waiting for a death benefit that will never be of living use to the the ill insured. If you are terminally ill and you need some options please find an agent/advisor to help you submit your policy to obtain offers that may help your situation.
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