What Types of Life Insurance Policies can be Sold for Cash?

What Types of Life Insurance Policies can be Sold for Cash?

Single life policies are generally much more attractive to viatical and life settlement providers. A viatical settlement of a survivorship policy is unlikely due to the fact that both insured’s would have to be terminally ill or have very short life expectancies. The life settlement market for survivorship policies isn’t much better, because the settlement […]

5 Considerations to Consider Before You Enter Into a Viatical or Life Settlement (Sale of an Unwanted Life Insurance Policy)

5 Considerations to Consider Before You Enter into a Viatical or Life Settlement (Sale of an Unwanted Life Insurance Policy)

Planners and insureds who are contemplating life settlements or viaticals should also take the following into consideration. This will ensure that the best possible decisions will be made in regards to policy decisions. These considerations are: Confidentiality and beneficiaries – Most companies stress the confidential nature of the transaction but they require the named beneficiary […]

Advantages of Viatical or Life Settlement (Sale of an Unwanted Life Insurance Policy)

Advantages of Viatical or Life Settlement (Sale of an Unwanted Life Insurance Policy)

Viatical Settlements The principal advantage is that terminally ill or severely chronically ill insureds can receive advanced payments on policy death benefits potentially free of income tax. If the insured is terminally ill, he can use the proceeds for virtually any purpose desired. For example, insureds may desire to use the proceeds to: cover out-of-pocket […]