Viatical

Important Viatical Information

How long does a viatical settlement take?

A viatical settlement can be completed in 4-6 weeks. If you provide the proper medical records and an original copy of your insurance policy to the viatical broker, the process can be faster. The time frame can vary depending on how long it takes the doctor and insurance company to send required information.

Who can I contact to find out who is a licensed viatical broker?

You can contact your local department of insurance or email send a request for a list of licensed viatical brokers. We have an autoresponse setup so once you email us you will immediately receive a reply with a list of brokers..

How much money will I receive?

Funding companies determine how much a seller will receive based on several factors. The most important are the seller's life expectancy and the premiums to keep the policy in force. Viatical settlements can produce payouts of anywhere from 20-72% of the face value.

How long must I have the policy?

Viatical funding companies will only purchase policies that are current and have been in force for at least two years. This means the policy must not be contestible.

Quick Notes to Remember

• A funding company should always pay you in a lump sum
• You should never have to take a medical exam
• You have the right to refuse an offer you receive
• You should never have to meet with a broker or provider

Should I do a Viatical Settlement?

Viatical settlements provide a way for the chronically ill with life insurance to get money. Common reasons people take part in viatical settlements are because they cannot afford their life insurance premiums or need some extra money to cover their expenses. If you fall into either of these categories, a viatical settlement may be right for you.

If you have any questions or concerns regarding viatical settlements or would like to get some advice regarding viatical settlements, please feel free to send a request.