Viatical Settlements: Answers to Common Questions
If you are searching for answers about viatical settlements, you’ve come to the right place. We understand that you don’t just need accurate answers. We are a team of expert viatical settlement brokers that can help you ask the right questions, so you can find the right solution for your unique situation.
What is a viatical settlement?
Viatical settlements involve selling of a life insurance policy of an ill person to an investor in exchange for a lump sum payment. The investor takes over the payments on the policy and becomes the beneficiary of the policy upon the death of the patient.
Should I become a viator?
People who have been diagnosed with a terminal illness have found a viatical settlement to be a sound option.
Viating is an option for a terminally ill patient to ease the burden as the medical bills mount up. For some, money derived from the sale of a life insurance policy may even result directly in an extension of their lives as they are able to seek alternative or additional medical care.
Are there fees involved?
There are no fees associated with viatical settlements – no medical evaluation charges, no application fees, etc.
Who will buy my policy?
Life insurance policies are typically purchased by viatical settlement provider companies who are interested in buying a variety of assets to balance their overall investment portfolios. Some provider companies work with large institutional investors such as banks and pension funds.
Is a credit check or health exam required?
No. A credit check or a health exam is not required for you to qualify for a viatical settlement.
If you are thinking of viating, you should ascertain whether your state requires viatical companies to be licensed. If so, you should work with a licensed company. Still have questions? If you did not find what you were looking for, please contact us at Exemplify Financial. Our experienced team of viatical settlement brokers can help you decide if a life settlement or a viatical settlement is right for you and your family.