VIATICAL SETTLEMENTS

This particular area of diversified cash flow, viatical settlements, is growing very quickly. Individuals and families who are dealing with terminal illnesses may find themselves with significant cash flow difficulties for medical treatments, family and home expenses or other needs. Viatical settlements offers one solution. We are extremely sensitive to provide professional, courteous service and the information you need to make the decision that is right for you.

What is a viatical settlement?

The word viatical originates for the Latin word "viaticus" meaning of a road or journey. A viatical settlement is the term used when terminally ill individuals sell their life insurance benefits.

Viatical settlements are not the same as accelerated benefits offered by insurance companies. Viatical settlements offer more flexibility in how the proceeds can be used.

Why should I sell my life insurance benefits?

The answer to this question is one you must answer for yourself. Some individuals who have completed viatical settlements have used the funds to:

Replace income sources deleted by the illness
Utilized funds for medical expenses
Pay off bills
Complete home repairs or modifications
Distribute the proceeds personally
Visit family or take a vacation with family
Provide a continuing quality of life and financial independence

What types of policies qualify?

The key is the life insurance policy(ies) you have in effect. We can provide you funding regardless of the size of the policy.

The type of policy is also important. Any type of insurance, as long as it provides a level death benefit, will qualify. Term insurance must provide a guaranteed renewability at its face amount. Whole life policies are calculated to provide cash in the viatical settlement.

The policy must be at least 2 years old.

How does the process work?

You can expect to receive between 60% and 85% of the face value of the policy. The amount is determined by several factors such as the issuing company, live expectancy, size of the policy and the premium amount.

Your beneficiaries will be notified of the change in beneficiaries and we will verify all medical information by an independent medical source.

Once you have completed the application and provide the necessary documentation an offer should be obtained within 5 business days. After the acceptance of an offer the processing time will depend on the insurance company, but should be completed within three to six weeks.

All costs are taken into consideration when the offer is made, therefore there will be no additional costs to you.

Once we have purchased the policy you are not responsible for any future premiums.

You can change your mind even after you have received the funding. A recission period of fifteen days is given to you to make sure you have made the right decision.

HOW TO GET STARTED:

If you are in need of viatical settlement services we will provide you with all the information and application you need to begin the process only if you request it.

Leave us an E-mail with your mailing address and phone number and we will send you the application and all the information you need.

If you prefer, call us (757) 988-0804 or fax us at (757) 877 7606, and we can send the materials to you in the mail or deliver them to you locally.