google-site-verification=ckHuR9GHmx5wAAppxZ5QeEWLz8ftMqullw_dqtjZgkU
American Life Fund > Benefits Viatical Settlement Companies

Benefits Viatical Settlement Companies

Benefits of Viatical Settlement Companies

Cancer is a serious illness that is physically exhausting, emotionally draining, and financially debilitating. For seniors and individuals of all ages, getting through cancer is truly a battle. Viatical settlement companies can help life insurance policyholders with the financial aspects of this experience. Essentially, viatical companies and life settlement providers purchase life insurance policies of individuals with terminal illnesses for a fair price. They give you a lump sum settlement, typically in the form of a cash payment, in exchange for your life insurance policy. Working with viatical settlement providers or viatical settlement brokers for the sale of a life insurance policy offers a long list of benefits and aids patients and insurance policy holders in several ways.

Cash in Hand

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. Once the transfer of the policy is complete, the viatical company becomes the policy owner, 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 so that beneficiaries don’t have to worry about them later.

More Time With Family

Many people opt to use viatical settlements to facilitate spending more time with their families. You don’t want to spend your time making additional premium payments to the insurance company. Instead, the cash value of a life settlement should be spent on activities with loved ones. The money from a settlement can allow the policy holder to take time off work or retire early if they are still working. Or if a family member is taking care of them, they can use the funds that would have otherwise been spent on a premium payments to allow the family member to time off work or retire early, whichever is in their best interest. In other situations, many people choose to take a family vacation or to simply spend some quality time together without worrying about insurance premiums or other money-related concerns.

Reduces Stress

By working with viatical settlement companies, cancer patients reap the benefit of reduced stress. That can be essential for healing but also just for feeling more mentally calm and relaxed. Being ill is stressful, and as the bills pile up, the stress builds even more. While money can’t solve everything, it can help to lessen the financial side of the stress for the insured.

Easy to Work With

Many people have never heard the phrase viatical settlements within the insurance industry, and often, when they first hear about the viatical settlement industry, they think that these purchaser companies and their services are going to be confusing and hard to understand. They aren’t sure how much money they will receive through the payout, they don’t know about eligibility requirements, and they aren’t sure how to determine the value of the policy and what the best price to sell it for is. Luckily, viatical settlement companies are extremely easy to work with and make the whole life policy process fairly simple. They guide you through the life settlement process, collecting any medical records, death benefit information, or additional paperwork needed. Additionally, they help you determine if the viatical settlement transaction is in your best interest, provide high net quotes quickly, and get you the best offer for your settlement as fast as possible.

Tax Benefits

Because of insurance laws, there are also tax benefits of working with viatical settlement companies and brokers. Unfortunately, in many cases when an owner of a life insurance policy cashes out the life policy using other options, they usually face tax consequences such as paying income tax or estate tax on the viatical settlement. These tax consequences cut into the proceeds an  decrease the amount of money you have available to you. In contrast, with a viatical settlement, the entire settlement is tax-free, meaning you owe no additional funds to any financial institution or financial professionals.

If you’re looking at different viatical settlement companies and trying to find a viatical company to work with, American Life Fund is here to help. We strive to make the settlement process as easy as possible for our clients, and our advisors will you guide you every step of the way. Get started by instantly seeing if you qualify or call us today at 877-421-0148.

Benefits of Viatical Settlement Companies

Cancer is a serious illness that is physically exhausting, emotionally draining, and financially debilitating. For seniors and individuals of all ages, getting through cancer is truly a battle. Viatical settlement companies can help life insurance policyholders and those with short life expectancies with the financial aspects of this experience.
Essentially, viatical companies and life settlement providers purchase life insurance policies of individuals with terminal illnesses for a fair price. They give you a lump sum settlement, typically in the form of a cash payment, in exchange for your life insurance policy. Working with viatical settlement providers or viatical settlement brokers for the sale of a life insurance policy offers a long list of benefits and aids patients and insurance policy holders in several ways.

Cash in Hand

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. Once the transfer of the policy is complete, the viatical company becomes the policy owner, 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 so that beneficiaries don’t have to worry about them later.

More Time With Family

Many people opt to use viatical settlements to facilitate spending more time with their families. You don’t want to spend your time making additional premium payments to the insurance company. Instead, the cash value of a life settlement should be spent on activities with loved ones. A viatical settlement often pays out more than the traditional cash surrender value policyholders gain after prematurely terminating a policy, which means those who choose a viatical settlement can take off work or opt for an early retirement. Or if a family member is taking care of them, they can use the funds that would have otherwise been spent on a premium payments to allow the family member to time off work or retire early, whichever is in their best interest. In other situations, many people choose to take a family vacation or to simply spend some quality time together without worrying about insurance premiums or other money-related concerns.

Reduces Stress

By working with viatical settlement companies, cancer patients reap the benefit of reduced stress. That can be essential for healing but also just for feeling more mentally calm and relaxed. Being ill is stressful, and as the bills pile up, the stress builds even more. While money can’t solve everything, transferring ownership of the policy can help to lessen the financial side of the stress for the insured.

Easy to Work With

Many people have never heard the phrase viatical settlements within the insurance industry, and often, when they first hear about the viatical settlement industry, they think that these purchaser companies and their services are going to be confusing and hard to understand. They aren’t sure how much money they will receive through the payout, they don’t know about eligibility requirements, and they aren’t sure how to determine the value of the policy and what the best price to sell it for is. Luckily, viatical settlement companies are extremely easy to work with and make the whole life policy process fairly simple. They guide you through the life settlement process, collecting any medical records, death benefit information, or additional paperwork needed. Additionally, they help you determine if the viatical settlement transaction is in your best interest, provide high net quotes quickly, and get you the best offer for the face value of your insurance as fast as possible.

Tax Benefits

Because life insurance is considered personal property, and because of insurance laws, there are also tax benefits of working with viatical settlement companies and brokers. Unfortunately, in many cases when an owner of a life insurance policy cashes out the life policy using other options, they usually face tax consequences such as paying income tax or estate tax on the viatical settlement. These tax consequences cut into the proceeds an
d decrease the amount of money you have available to you. In contrast, with a viatical settlement, the entire settlement is tax-free, meaning you owe no additional funds to any financial institution or financial professionals.

If you’re looking at different viatical settlement companies and trying to find a viatical company to work with, American Life Fund is here to help. Whether you have an individual plan or a group policy, we strive to make the settlement process as easy as possible for our clients, and our advisors will you guide you every step of the way. Get started by instantly seeing if you qualify or call us today at 877-421-0148.

“I am very happy that I found out about American Life Fund! It has made my life and finances more bearable. Everyone I spoke to was so kind and compassionate. Thank you so much for helping me.”

“You never know how stressful a cancer diagnosis is until you experience it yourself. American Life Fund relieved my financial worries so I’m able to focus on my journey to recovery!”

“When my husband was diagnosed with cancer and our retirement ran out, we needed a plan B and fast. American Life Fund provided the financial help we needed exactly when we needed it.”

“They answered all of my questions and kept me informed so I never had to worry about what was going on. It was very reassuring and made the process so much easier.”

Copy link
Powered by Social Snap