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.
Terminal Cancer Diagnosis, What Now?
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.
Can I Buy Life Insurance Policies from the Secondary Market?
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.
How do I Invest in Viatical Settlements?
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.
What are the Costs Associated with Paying for Cancer Treatment?
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.
What is the Secondary Life Insurance Market?
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.
The Viatical Settlement Process Explained
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.
Top 10 Reasons to Get A Viatical Settlement
Read our list of the top reasons for a Viatical Settlement. Caring for a family member who has been diagnosed with a terminal illness can be almost as tough as being the patient with the shortened life expectancy. Viatical settlements may help you cope with the financial demands in such a situation.
Are Viatical Settlement Taxes Ordinary Income?
A viatical settlement gives terminally ill individuals cash in exchange for their life insurance policies. In most cases, viatical settlements, life insurance payments to the terminally ill, are not taxable.
What is a Viatical Life Insurance Settlement?
The simple explanation of what is a viatical life insurance settlement, is a terminally ill patient receives a cash payment for a life insurance policy they own. A more in-depth viatical settlement definition is a transaction where a person who has a life insurance policy and a terminal illness sells his interest as an insured …See More