A Viatical settlement is the sale of an existing life insurance policy by a terminally ill person to a third party, in return for a percentage of the face value of the policy paid immediately. A long-term disabling medical condition or a life-threatening illness can also create financial stress. A viatical settlement is an effective estate-planning vehicle, which can ease that financial stress. Therefore, a viatical settlement allows a terminally ill person to enjoy the benefits of his life insurance policy while he is still alive and to transform a non-producing asset into immediate cash, which can be used to improve the quality of his life. 

The sales and assignments of life insurance policies are as old as life insurance itself. Under the laws in all 50 states a life insurance policy is treated as the intangible personal property of the owner.  Therefore, as with any other type of personal property, it can be freely assigned by the owner with the exception of some restricted policies. Life limiting illnesses, in addition to their deleterious effects, exact a tremendous financial toll upon insurers and their loved ones. With many different types of illnesses, such as AIDS and cancer, the use of such assignments by insurers has become more widespread. 

In Viatical settlements both parties win. Viatical settlements have been recognized by the National Association of People with AIDS, many prominent financial planners, a variety of support organizations nationwide, and countless viators have benefited from Viatical settlements. The understanding of the American Cancer Society is that a Viatical settlement may be beneficial to certain cancer patients and supports the granting of an income tax exemption for such payments. 

BENEFITS & ADVANTAGES

• Money for medical treatments
• Financial planning for your family’s future
• Emotional Freedom
• Financial Freedom
• Can help protect Assets (i.e., Houses Cars, Investments )