Viatical Settlements for Patients with Pulmonary Fibrosis

Pulmonary fibrosis is a progressive, life-limiting condition that causes scarring of the lungs, making it increasingly difficult to breathe. For those facing the emotional and financial toll of this diagnosis, exploring viatical settlements may offer relief. Viatical settlements for patients with pulmonary fibrosis allow eligible policyowners to sell their life insurance policy for a lump sum of cash that is often far more than the policy’s surrender value. This money can then be used to pay for care, treatments, home modifications, or to relieve financial stress during an already difficult time.

What Is Pulmonary Fibrosis?

Pulmonary fibrosis is a type of interstitial lung disease (ILD) that leads to the thickening and stiffening of lung tissue. Over time, this scarring limits the lungs’ ability to function properly, leading to chronic cough, fatigue, and shortness of breath. It is a serious condition that typically worsens over time, and while treatments exist to slow its progression, there is currently no cure.

There are several forms of pulmonary fibrosis, including:

• Idiopathic Pulmonary Fibrosis (IPF): Idiopathic pulmonary fibrosis is the most common and most aggressive form, with no known cause.
• Connective Tissue Disease-Associated ILD (examples include scleroderma or rheumatoid arthritis-related PF): Occurs as a result of autoimmune disorders.
• Chronic Hypersensitivity Pneumonitis: Caused by repeated exposure to environmental irritants like mold, bird droppings, or dust.
• Occupational Pulmonary Fibrosis: Resulting from long-term inhalation of harmful particles such as asbestos or silica.
• Drug-Induced Pulmonary Fibrosis: Triggered by certain medications, such as chemotherapy drugs or amiodarone.

Treatments for Pulmonary Fibrosis

While pulmonary fibrosis cannot be reversed, there are options available to slow its progression and manage symptoms. Treatment plans are often tailored based on the specific type of fibrosis and the severity of the disease. Common treatment options include:

• Antifibrotic medications: Drugs such as pirfenidone (Esbriet) and nintedanib (Ofev) are approved to slow the progression of IPF.
• Oxygen therapy: Many patients need supplemental oxygen, especially during physical activity or sleep, to improve quality of life.
• Pulmonary rehabilitation: Structured exercise programs can help maintain strength and reduce breathlessness.
• Lung transplant: In select patients with advanced disease, a lung transplant may offer extended survival, though candidacy is limited.
• Symptom management: Medications may be prescribed to manage cough, GERD, anxiety, or depression.

How Viatical Settlements Help

Because pulmonary fibrosis is considered a serious and life-limiting condition, many patients may qualify for a viatical settlement. These settlements provide immediate funds that can be used for out-of-pocket medical expenses, travel to specialist care, in-home nursing, oxygen equipment, or simply to ease financial burdens for the policyholder and their family.

To qualify, most viatical settlement buyers require:

• A confirmed diagnosis of a life-limiting condition such as pulmonary fibrosis.
• A life insurance policy with a death benefit typically over $100,000.  Some smaller policies may qualify.  It is always best to ask. 
• An active policy – many types can qualify including Universal life, Whole life, Group policies, and convertible term insurance.  Some term policies may qualify for viatical settlements. 

Importantly, viatical settlements are typically not considered taxable income, as they are treated as an advance of the death benefit. However, patients should consult with a trusted tax advisor before making financial decisions.

Viatical settlements for patients with pulmonary fibrosis offer a powerful financial lifeline when time and resources are limited. For those navigating this progressive condition, selling a life insurance policy can provide access to better care, comfort, and peace of mind.  To learn if you or your loved one are likely to qualify, please give us a call at 800-973-8258.  We have been helping policyholders access the hidden value in life insurance for nearly 20 years.