Posted by The Policy Settlement Alliance on Tue, Aug 10, 2010 @ 03:37 PM
By Ronald C. Kerstetter
A life insurance viatical is a purchase of a life insurance policy held on the life of a person experiencing a terminal or critical illness. Despite the fact that many individuals find the practice somewhat disturbing, a this type of transaction can be a life saving or at least life enhancing planning tool.
Let’s look at a situation where a life insurance viatical can make a difference in the quality of life of an extremely ill individual.
Medicare and most health plans only cover so much. Homes no longer are the source of equity they used to be. When there is a life and death or at least quality of life need for money to provide medical and home care, remodel a home for handicapped living where does this money come from? Do you liquidate all your savings? What happens when that runs out?
Often times an overlooked resource are existing life insurance policies. A life insurance viatical can provide a ready source of much needed cash. Through a viatical settlement treatments and services that can make a loved ones life easier or even prolonged can be paid for. Funds provided through a viatical also go a long way toward easing the minds of loved ones tasked with the care of family member’s, it allows them the peace of mind of knowing they can take an occasional break. For more information please click on LIVEpdq.
Note: Blog posts reflect the opinion of the author, which may differ from the opinion of policysettlement.com.
Posted by Alice Hood on Tue, Jun 29, 2010 @ 06:11 PM
By Jeff C Kennedy
Simply stated, a life insurance viatical
is the sale of a life insurance policy in which the insured is terminally ill. You have probably read about the viatical process, but how can you really benefit from the funds you will receive?
The proceeds from a life insurance viatical can be used in many ways. In my opinion, the most important is to improve the quality of your life for the time that is remaining. Not only for yourself but for your family as well. Nothing is more reassuring than knowing you can continue your remaining months or years with a sense of independence and dignity without over burdening loved ones. In addition you can exercise more control over your health care options.
In addition to peace of mind, a life insurance viatical can help cover lost income and can be used to cover personal debt and make future financial arrangements for yourself and your family.
For more information on how you can benefit from a viatical transaction and gain peace of mind during a difficult time, click the Live PDQ link today!
Note: Blog posts reflect the opinion of the author, which may differ from the opinion of policysettlement.com.
Posted by Alice Hood on Tue, Jun 29, 2010 @ 03:03 PM
By Stephen A. Bailey
Life Insurance Viatical, is this a settlement? Policy Settlements per se are different from viaticals. For a "policy Settlement" the policy fits an amount and age group and can be for someone who is perfectly healthy. Normally, a life insurance viatical is for someone, most anyone regardless of age, that virtually is Terminal. If his or her health is so bad due to AIDS (how viaticals started out) or terminal cancer or any health reason where an insureds death is imminent in the next 2 years or so, the Life Insurance is basically a Viatical.
A policy settlement on the other hand, is an opportunity for a person usually age 70 or older and with a policy at least $500,000 to a $1,000,000 and more policy, that no longer has the need of that policy and may in fact, not be able to afford it and rather than lapse or surrender, the insured could get 2 or 3 times the surrender value by selling the policy.
For the investor(s) purchasing the policy, they will look at the health of the senior selling it. They will look at what the rating (Preferred / Standard / SubStandard) of the insured when they bought the policy and what the rating of the insured is now. If he is very health, the policy will sell for less. If he has become unhealthy, the policy will sell for more.
Click LIVEpdq for more information on life insurance viatical settlement, life settlements or any life insurance or annuity needs.
Note: Blog posts reflect the opinion of the author, which may differ from the opinion of policysettlement.com.
Posted by Alice Hood on Mon, Jun 28, 2010 @ 06:46 PM
by
Stephen P Turtur
A
life insurance viatical
refers to the concept of a life insurance policy that is for sale or sold on the life of a terminally ill person. Life settlement usually refers to the sale of a policy that is not in a category of terminal illness of the insured. In todays market there are lists of illnesses that do relate to terminal status including many types of cancer. A life insurance viatical is a common event as many people are faced with medical bills or financial hardship with terminal illness and the sale of a policy can assist those in this predicament. Viatical settlements are contracts between the funder and the insured/owner of the policy whereby the insured/owner gives up the rights to the policy in exchange for an amount of upfront cash. The life insurance viatical much like a life settlement must be submitted to the funder with maximum medical disclosure of the insureds medical file and the determination for viatical status is made concerning the terminal illness. In many cases the life expectancy report is given relating to the individuals circumstance and in relation to the illness. This report along with the policy internal cost structures will ultimately determine the value of the policy. I advise hiring an agent/advisor to help you in transacting this type of financial document.
To get started please click on
livepdq
Note: Blog posts reflect the opinion of the author, which may differ from the opinion of policysettlement.com.
Posted by Alice Hood on Mon, Jun 28, 2010 @ 06:11 PM
By Ronald E. Ritter
A life insurance viatical
is a high bred version of a life settlement, the sale of a life insurance policy. In order for a life insurance viatical to exist the insured must have a terminal illness with less than 24 months to live.
The life insurance viatical came into existence during the late 80’s and early 90’s when the AIDS epidemic had reached a critical stage and the cost of the medications to treat this deadly disease was prohibitive. People began to search for ways to pay for their treatment and eventually the idea of selling their life insurance policy became a reality.
This is a very difficult and lengthy process and the whole of the situation varies extremely with each individual. An experienced life insurance agent who has experience in dealing with more than one company is recommended.
For further information regarding life settlements please go to livepdq today.
Note: Blog posts reflect the opinion of the author, which may differ from the opinion of policysettlement.com.
Posted by Alice Hood on Mon, Jun 28, 2010 @ 06:08 PM
By Phillip J Powell
Life insurance viatical
is the same as a viatical settlement. Many states realize this as the term to use in regards to life settlements. Many states have adopted this concept. Some states recognize the term senior settlements. The government agencies are trying to stream line the entire process to make all of the states uniform. This is a a very dangerous thing to do.
Let's use corn as an example if people in the Midwest and people in the California were forced to grow the same amount of corn. Sure it would stabilize the corn industry in the Midwest, but it would destroy other businesses in California that corn is used for wine.
There are many variations and many things that are actually different in other regions.
Life insurance viatical is insurance in the essence. Going back to the early days of life insurance when it was originally formed,life insurance was initially created to ward off piracy. Insurance companies will take a premium for boats that were being stolen to offset the owners loss.
Life insurance viatical in it's essence is when an insured has less than two years to live. The difference as discussed earlier in the interpretations of a life insurance viatical is it differs in that specific state. The government trying to make the laws conform from state to state is the most important issue. God knows that peoples needs in California are much different than those in Kansas. It is basically impossible to limit or make something conform in an ever changing industry with so many variations.
For more information please go to LivePDQ.
Note: Blog posts reflect the opinion of the author, which may differ from the opinion of policysettlement.com.
Posted by Alice Hood on Mon, Jun 28, 2010 @ 06:00 PM
By Ian F Smith
Life insurance viatical - Is it right for me? Well only you can answer that question. For starters a life insurance viatical is the selling of a life insurance policy to an investment group for cash. The one major stipulation is that you have had to of been diagnosed with a terminal illness and been given something less than 24 months to live. Beyond the emotional issues you would be facing, dealing with your financial assets may be best left to an advisor with your best intentions involved.
After deciding to sell an insurance policy in the viatical market, you need to be sure the end result is what you are looking for. With only months to live you can become clouded in your thought process. Having an independent advisor can help you weigh the end results and assist you in making the best decisions. Paying off bills, taking care of final expenses and having the delicate conversations with your loved ones, can be a trying time. The biggest conversation may be the discussion with the named beneficiary on the life insurance policy you are selling. Because after you sell an insurance policy the new owner will change the beneficiary of the death benefit proceeds to himself or his company. Making sure your current beneficiary understands that is critical.
The life insurance viatical market has its place. But if you are considering it, please make every effort to connect with a true advisor or consultant that is working for you.
Visit our LIVEpdq webcast to stay apprised of the viatical market.
Note: Blog posts reflect the opinion of the author, which may differ from the opinion of policysettlement.com.