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American Life Fund > Benefits of Viatical Settlement Companies

Benefits of Viatical Settlement Companies

Cancer is physically exhausting, emotionally draining, and financially debilitating. Getting through cancer is truly a battle, but viatical settlement companies can help with the financial aspects of this experience. Essentially, viatical companies give you a settlement in exchange for your life insurance, and working with these companies offers a long list of benefits.

Cash in Hand

One of the top reasons cancer patients turn to viatical settlement companies is because they need a substantial amount of money to cover the costs that are associated with cancer, and they need it fast. Viatical settlement companies are one of the few resources that put a large amount of interest-free cash into their hands. Another advantage of viaticals is that you can use the funds however you want. You can cover medical bills, pursue alternative treatment, get caught up on bills around the house, pay off your home, or take care of a variety of other expenses.

More Time With Family

Many people also use viatical settlements to facilitate spending more time with their families. The money from a settlement can allow the patient 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 so the family member can also take time off work or retire early. In other situations, many people choose to take a family vacation or to simply spend some quality time together without worrying about money.

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 and the sickness gets worse, the stress builds. While money can’t solve everything, it can help to lessen the financial side of the stress.

Easy to Work With

Many people have never heard the phrase viatical settlements, and often, when they first hear about viatical settlement companies, they think that these companies and their services are going to be confusing and hard to understand. Luckily, that is not the case. Viatical settlement companies are extremely easy to work with. They guide you through the process, provide quotes quickly, and get you the settlement as fast as possible.

Tax Benefits

There are also tax benefits of working with viatical settlement companies. Unfortunately, in many cases when you cash out your life insurance policy using other options, you usually face income tax on the settlement. That cuts into the proceeds and decreases the amount of money you have available to you. In contrast, with a viatical settlement, the entire settlement is tax-free.

If you’re looking at different viatical settlement companies and trying to find a company to work with, consider choosing American Life Fund. We strive to make the settlement process as easy as possible for our clients and our counselors 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.