Being diagnosed with terminal cancer is enough to make anyone cry. Once you have had time to come to terms with the reality of the situation, you will face the prospects of expensive treatment and care. If you own a life insurance policy, you may be able to sell it for a lump sum of cash in the secondary market for insurance, and use the money to relieve the financial burden of cancer.
What is a Viatical?
A viatical is a transaction where a person who has a life insurance policy and a terminal illness sells his interest as the insured to a viatical settlement company. The viatical life settlement company makes a cash payment to the insured in exchange for ownership of the life insurance policy. When the insured dies, the life settlement company receives a return on its investment in the form of the proceeds from the life insurance policy.
Learn about the benefits of viatical settlements and life settlements, and get your policy appraised before you take the next step. Knowing what your policy is worth as a life insurance settlement gives you the upper hand in the next step of the life settlement process.
Buying life insurance policies in the secondary market for insurance is not a suitable investment for most individual investors. While the returns can be excellent, life settlements also carry significant risk. Suitable accredited investors include individuals with a high net worth and institutions with strong financial backing.Tags: Life Settlement, Secondary Market, Settlement Investments
Investing in viatical settlements can be a good way for accredited investors to earn solid returns on their money without taking market risk. You must be aware of the risks and the fact that return on investment is not known until the insured passes away.Tags: Life Settlement, Settlement Investments, Viatical Settlement
The secondary market for life insurance exists to connect owners of life insurance policies, who want to sell their policies, with third parties who are interested in purchasing those life insurance policies. If you have a dramatic decline in your health and need money while you are alive, have your policy valued to see how much you might get by selling it in the secondary life insurance market.Tags: Secondary Market, Viatical Settlement
Understanding the viatical settlement process will help you make the right decision when considering the sale of a life insurance policy that you own. The viatical life insurance settlement process is not any more complicated than the process of buying a life insurance policy.Tags: Viatical Settlement