For individuals facing serious illnesses, accessing cutting-edge treatments can be both life-changing and financially overwhelming. Viatical settlements may help you access the latest treatments by providing immediate funds from the sale of a life insurance policy. Whether you are managing advanced Parkinson’s disease, cancer, or another severe medical condition, a viatical settlement can offer financial relief to help cover the cost of new therapies, home care, and other medical expenses.
New Treatment Advances and the Rising Cost of Care
Medical breakthroughs are constantly expanding treatment options for serious illnesses. However, these treatments often come with high out-of-pocket costs, even for those with insurance. Some of the latest therapies that may not be fully covered include:
- Onapgo (apomorphine hydrochloride) for advanced Parkinson’s disease – This new continuous infusion therapy helps reduce severe “OFF episodes,” allowing patients to maintain better mobility and independence.
- Datroway (datopotamab deruxtecan) for metastatic breast cancer – This targeted antibody-drug conjugate helps deliver chemotherapy directly to cancer cells, minimizing side effects.
- CAR-T Cell Therapy for blood cancers – This innovative immunotherapy modifies a patient’s T cells to fight cancer, offering new hope for those with leukemia or lymphoma.
- Proton Therapy for certain solid tumors – A more precise form of radiation therapy that minimizes damage to surrounding healthy tissues, reducing side effects.
- Amyloid-targeting drugs for early-stage Alzheimer’s disease – New FDA-approved medications like donanemab work to slow cognitive decline in Alzheimer’s patients, but coverage limitations can make access difficult.
For many patients, these treatments provide a crucial chance at improved quality of life, but the costs can be prohibitive.
How a Viatical Settlement Can Help
A viatical settlement allows individuals with a serious illness to sell their life insurance policy for an immediate cash payout. Instead of letting a policy lapse or surrendering it for minimal cash value, a viatical settlement provides a lump sum—often significantly higher than the surrender value—allowing patients to:
- Pay for advanced treatments that may not be fully covered by insurance.
- Cover in-home care, assisted living, or hospice care to improve quality of life.
- Afford alternative therapies that insurance may not support.
- Reduce financial stress so they can focus on their health and well-being.
- Ensure financial security for their families.
Who Qualifies for a Viatical Settlement?
To qualify, individuals typically need a serious or terminal illness with a life expectancy of two years or less, though eligibility depends on factors such as the type of policy, coverage amount, and health status. Most policies with a face value of at least $100,000 are considered for viatical settlements. Insureds with a longer life expectancy may qualify for life settlements.
Finding Out If You Qualify
If you or a loved one is navigating the challenges of a serious illness and struggling with the cost of care, exploring a viatical settlement could provide the financial flexibility needed to access the latest medical treatments and improve quality of life. By selling your life insurance policy, you can unlock the funds to help you afford groundbreaking therapies and necessary care.
Would you like to see how much your policy could be worth? Please call us at 800-973-8258 to learn if you qualify. We can assist you with a no obligation policy appraisal.