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Viatical Life Settlements Viatical Settlements are a unique financial assistance option for chronically ill individuals who have life insurance. The program provides a non binding offer to buy the life insurance policy for a percentage of the death benefit now. Once the offer is accepted the policy owner receives a lump sum now and is also relieved of future premium payments. At this point the policy owner now has a lump sum of cash to use at their discretion and the funding company now becomes the owner and beneficiary of the policy.
Why would someone want to use this free service?
When dealing with a life threatening illness it can prove to be very expensive to a family. Life threatening illnesses not only drain someone emotionally, they also can drain you financially. A viatical settlement offers living benefits from your life insurance and can make the difference in qualify of life for so many individuals. There are thousands of individuals in the United States with life threatening illnesses that let their life insurance lapse because they cannot afford the premiums.
What are the Benefits of Viatical Settlements?
The simple benefit is money to use right now when it is needed. Policy owners often will take the proceeds to pay overdue medical and personal bills, take a dream vacation, enhance their qualify of life, or just to spend more time with their family.
How to qualify?
In order to qualify the insured does not need to own the life insurance policy. It can be owned by a family member or anyone associated with them. The policy death benefit (face value) needs to be over $20,000 and the insured needs to have a life threatening illness. Common terminal illnesses can include: - Aids
- Alzheimer's
- Asbestos Cancer
- Blood Cancer
- Bone Cancer
- Brain Cancer
- Breast Cancer
- Cervical Cancer
- Colon Cancer
- Heart Disease
- Hepatitis C
- Liver Cancer
- Lung Cancer
- Melanoma
- Mesothelioma Cancer
- Ovarian Cancer
- Pancreatic Cancer
- Prostate Cancer
- Rectal Cancer
- Testicular Cancer
- Throat Cancer
Again if you are living with a life threatening illness and have life insurance, then this is an option you should consider. Viatical Settlements are something that can help and it will cost nothing to you at all. Information on Accelerated Death Benefits (ADB)
ADB's are only offered for individuals who have a life expectancy of less than two years. Also they may only be available on certain types of insurance policies. Finally ADB's require you to still pay the premiums on the policy. Ideal can get offers for individuals who have life expectancies of five years or less. Almost any type of life insurance policy is purchased, and no future premium payments are required after the policy is sold.
A Final Word from Ideal Life Settlements
Please don't hesitate, financial problems only get worse and not better when dealing with a life threatening illness. If you have additional question regarding a viatical settlement or life settlement, contact Ideal today. If are searching for additional information on viatical settlements within your state please follow the links below: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming and the District of Columbia D.C.
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