Many policyholders find themselves in a situation where they no longer need or can no longer afford their life insurance coverage. Selling an unneeded life insurance policy can provide a financial solution by turning the policy into a lump sum of cash. Instead of surrendering it for a fraction of its value or letting it …See More
Funding Palliative Care for Cancer Patients with Viatical Settlements
For many individuals facing a cancer diagnosis, ensuring comfort and quality of life through palliative care is a top priority. Funding palliative care for cancer patients with viatical settlements offers a financial solution for those in need of immediate resources to cover medical and living expenses. By selling their life insurance policy, patients can access …See More
Is Selling Your Life Insurance Legal?
Is selling your life insurance legal? Yes, selling a life insurance policy is entirely legal and has been upheld by U.S. courts for over a century. The right to sell your policy for cash, known as a life settlement or viatical settlement, originates from a landmark legal decision that established life insurance as personal property, …See More
Viatical Settlements vs Living Benefits
When comparing viatical settlements vs living benefits, both options provide a way to access funds from a life insurance policy while still alive, but they differ significantly in how they work, eligibility requirements, and financial implications. Understanding the differences can help policyholders make informed decisions about which option best fits their financial needs during challenging …See More
Get Cash for a Life Insurance Policy with a Loan
If you’re wondering whether it’s possible to get cash for a life insurance policy with a loan, the answer is yes, you may be able to sell a policy with a loan in a life settlement or viatical settlement. While having a loan against your policy can impact its value, you may still be eligible …See More
How Preexisting Conditions Affect Life Settlement Offers
When considering selling your life insurance policy, it’s important to understand how preexisting conditions affect life settlement offers. These conditions can significantly influence the value of your policy and the offers you receive from potential buyers. Interestingly, the role of health in the life settlement market is the opposite of its role when applying for …See More
How Terminal Illness Impacts Life Insurance Options
Facing a terminal illness is an incredibly challenging time, and understanding how terminal illness impacts life insurance options can provide valuable financial relief and peace of mind. If you or a loved one has a life insurance policy, it’s important to know that certain options, like viatical settlements or an accelerated death benefit, may be …See More
Can You Sell a Life Insurance Policy to Pay for Hospice Care?
If you or a loved one are considering hospice care, you are likely wondering how to pay for this valuable, but often expensive care. Can you sell a life insurance policy to pay for hospice care? The answer is yes you may be able to sell a policy for cash and this option can provide …See More
Options for Unwanted Life Insurance Policies
Life insurance policies often serve as essential safety nets, providing financial security for loved ones. However, there are situations where policyholders may no longer need their coverage or find it financially burdensome to maintain. In such cases, exploring options for unwanted life insurance policies can help individuals make informed decisions and potentially recoup some of …See More
Viatical Settlements: Cashing Out Life Insurance
When facing financial challenges due to a terminal or chronic illness, many individuals find comfort in exploring viatical settlements: cashing out life insurance to secure much-needed funds. This process enables policyholders to sell their life insurance policies for a lump sum payment, offering a financial lifeline during a critical time. But how does it work, …See More