What’s a Viatical Settlement and How to Qualify

What’s a Viatical Settlement and How to Qualify

Millions of Americans are currently holding life insurance policies. Because of a powerful Supreme Court decision back in 1911, a ruling was set that a person’s life insurance policy can be sold legally even if the holder is alive. The ruling, together with the HIPAA legislation affirmation in 1996, stands up to this day but not a lot of people know about its existence.

Amazingly, almost 90% of life insurance policies in the United States lapse worthless. This created a massive windfall for insurance companies. When disease strikes, often people let their policies lapse through non-payment because they think continuing them is no longer an option due to the financial burden. Well, this is an ill-advised strategy.


Selling a Life Insurance Policy

Life settlement brokers provide funds that are called Viatical Settlements. These types of settlements can provide the owners of life insurance policies 50-75% of the policies’ face value. For instance, for policies that have a face value worth $500,000 each, the policy owners may receive $375,000 for selling the policy.

If you want to sell your life settlements today, you can do so and you will have full control as to how you can use the funds that you will receive. Tragically out of 1,600 American citizens who will die prematurely of cancer today, only 20-50 of them have heard of this powerful financial tool.


Is a Viatical Settlement a good option for me?

Insurance companies routinely deny natural treatment costs. As for families, their knee-jerk reaction would be to disregard the option that may help them economically manage their illness, the Viatical Settlement.

Our advice is that you consider the following:

  • The industry of Viatical Settlement is a regulated and mature segment of today’s business community.
  • Tens of thousands of Americans have already been assisted by the process.


How to Qualify for a Viatical Life Settlement

If you currently hold a life insurance coverage worth $50,000 or more and a licensed practitioner has given you a diagnosis of life-threatening or serious illness, then you may qualify for a life settlement or viatical.

Determining whether you will be qualified for the settlement is based on basic factors such as your policy type, future premium costs, and health history.

Here are some guidelines that will help you find out whether you qualify:

  • A licensed practitioner has given you a diagnosis of terminal illness.

You must be diagnosed with a terminal illness for you to qualify. Medical conditions that qualify include advanced-stage dementia, late-stage cancer, ALS, renal failure, and congestive heart failure.

  • Your policy’s face value should be $50,000 or more.

In order for you to qualify, the policy that you hold must have $50,000 worth of current death benefit.


  • The policy type that you hold must be eligible.

Almost all types of life insurance policies are eligible for Viatical Settlements including Whole Life, Universal Life, Group Life, Premium Adjustable, Life, and Indexed Life.

If you would like to determine if a Viatical Settlement is a good option for you contact us today – 844-333-1200

For further reading on these powerful financial tools visit ALIR Settlements.