One of the top reasons cancer patients turn to life settlement brokers and buyers is because they need a substantial amount of immediate cash to cover the costs that are associated with cancer in a short amount of time.
Viatical settlement companies are one of the few resources within the life settlement industry that put a large amount of interest-free cash into viators’ accounts, freeing them of premium payments to life insurers. Getting money from your life settlement instead waiting for a life insurance policy payout can help you cover medical bills now in order to give you the financial stability you need.
Once the transfer of the policy is complete, the viatical company becomes the policyowner, thus paying its premiums. Once the insured passes on, the viatical company buyer or investor is then entitled to the net death benefit.
Another advantage of third-party viaticals is that you can use the payment however you want.
Instead of paying future premiums to a life insurance company, sellers can use the funds from the life settlement company to cover medical bills, pursue alternative treatment, get caught up on bills around the house, pay off a home, or take care of a variety of other expenses. A viatical settlement is a great option for people that need immediate access to money but don’t want to go through the process of a reverse mortgage or relying on their retirement fund or another type of investment in order to cover medical transactions and other costs.