If you are canceling a life insurance policy with a cash value, it is likely that you know what that value is. You pay into your life insurance policy over the years and there’s a cash value element and a cash surrender value element on some policies. In essence that’s the amount of money the insurance […]
Navigating the Life Settlement Market The life settlement market is simply a marketplace of life settlement buyers. Life settlement buyers are looking for life insurance policy owners that may benefit from the possibility of getting cash immediately. If you are a qualified candidate, you may find that selling your life insurance policy to a life […]
Did you know that you can get cash for your life insurance policy? Or have you ever wondered, “Can I cash-in life insurance while I am still alive?” Good news – the answer is yes, and there are several ways to get cash for your life insurance policy. If you suffer from a chronic illness, […]
The viatical settlement industry developed in the 1980’s when people around the world started dying from AIDS. The history of viatical settlements can be traced back to a 1911 Supreme Court decision in Grigsby v. Russell that established that a life insurance policy is an asset.
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.
Buying life insurance policies in the secondary market for insurance is not a suitable investment for most individual investors. Investors should only transact with someone who is licensed in viatical settlements. 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.
Investing in viatical settlements can be a good way for accredited investors to earn solid returns on their money without taking market risk. You should only deal with a licensed vatical settlement company. You must be aware of the risks and the fact that return on investment is not known until the insured passes away.
Out of pocket costs for the treatment and care of cancer patients can put a tremendous financial strain on both patients and their families. One possible way to relieve that financial pressure of paying for cancer treatments is to consider a viatical settlement in the secondary market for insurance.
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 appraised to see how much you might get by selling it in the secondary life insurance market.
Understanding the viatical settlement process can 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.