Viatical Settlements. Years ago you bought a life insurance
policy, and your intent was to provide cash for your family in the event
of your premature death. Now, your children are grown and gone off to
make their own lives. Your wife and yourself had a good life but...now
you have discovered that you are terminally ill.
There are companies called viatical investment companies which will buy your life insurance policy for a percentage of it's death benefit value thereby allowing you to have money to pay medical expenses etc, easing your financial burden. Such transactions are referred to as viatical settlements.
There is nothing more important than your family's security. What would happen to your family if you died? Would they be provided for? Compare Quality Quotes and Save up to 70%! The process is Fast, Easy and FREE. Click Here
Why Would You Sell Your Life Insurance Policy?
If you are single, widowed, and have nobody dependent on you for support then getting involved in a viatical settlement may be a good idea. If you are married and your wife has no need for your life insurance policy then you may decide to sell your policy.
You may need cash to replace loss of income and have no disability insurance to do the job. You may not be able to pay premiums anymore. You may have medical expenses for which you can find no other way to pay them. You may have debt that is causing you tremendous stress. For these reasons you may want to sell your policy.
Who Buys Life Insurance Policies And How Much Will You Get For Your Policy?
Investors buy life insurance policies usually for about 60% of their face value. When the insured dies these investors are paid the full face value of the policies. In the meantime they have to pay the premiums.
You can sell your life insurance policy directly to a viatical investor, or you can go to a broker who usually tries to get the best deal for you.
Should You Sell Your Life Insurance Policy?
Let us try to look at both sides of the coin; this may be difficult for a person in that particular situation, but try O.K.
By selling your policy you get sufficient cash to ease or even eliminate financial burdens, however, you may lose your eligibility for public assistance. Bear in mind that if you live long enough, in your physical state, public assistance can be substantial.
Although you get your hands on additional money to compensate for income loss you are sacrificing your life insurance and thus depriving those you intended this benefit for.
Because viatical settlements are a fairly new idea the tax implications are not yet set in stone. One court recently decided that cash received from such settlements are taxable.
Shop and compare Insurance Rates from 100's of the Top Carriers. Get the Best Quotes possible. Save up to 70%. Click Here
Life Insurance Quotes Viatical Settlements Selling A Life Insurance Policy Accelerated Death Benefit Cashing A Life Insurance Policy 20 Year Term Life Insurance 30 Year Term Life Insurance Whole Life Insurance Online Variable Life Insurance Quote Life Insurance Policy For Sale Viatical Settlements Investments Disability Insurance Long Term Care Insurance Mortgage Insurance Mutual Funds Financial Planning Whole Life Insurance Retirement Planning Estate Planning Universal Life Whole Life Insurance Quotes Cheap Life Insurance Life Insurance Companies Life Insurance Policies Low Cost Life Insurance Online Life Insurance Life Insurance Rates
No Medical Exam Life Insurance. What is going on here? Is this new? The way people act one would think that this is an entirely new idea.
Consider online life insurance. Buying life insurance online can be quite a simple process especially if you know how much you want and what type.
There are many pages on this website on term insurance details and how it works. What I want to do on this page is give you a basic and general outline of this policy.
You may find it a valuable experience as well as enlightening if you took some time to get a term life insurance quote on your favorite term policy.
Key employee life insurance is really a necessity.