Common Myths About Viatical Settlements
Prior to doing their research, many people have assumptions about what viatical settlements are and how they work. That’s why it’s important to make sure you have all the facts before proceeding with a viatical settlement. Instead of sifting through tons of information, read this guide that debunks common viatical settlement myths.
Myth #1: Viatical Settlements Are Expensive
Truth: When you work with a viatical settlement broker, obtaining a settlement carries some costs. Brokers get a variety of settlement offers from different companies, and in exchange for that service, they charge you a fee. That can drive up the total cost and potentially even make the process expensive.
At American Life Fund, we cut out the middle man. We work directly with our clients which means we don’t charge any extra fees so you don’t have to worry about unexpected expenses. When we offer a settlement, you get the full amount of the offer.
Myth #2: Viatical Settlements Offer an Unfair Amount
Truth: Viatical settlements offer a fair amount. The amount you receive varies based on the value of your life insurance policy, your age, and your diagnosis. We work hard to ensure that our clients get the highest amount possible.
Plus when you take out a viatical settlement, the entire amount is tax-free. In contrast, other financial options are taxed as income or come with high interest rates.
Myth #3: Viatical Settlements Are Time Consuming
Truth: The settlement process can take different amounts of time, depending on which company you hire. However, at American Life Fund, we work hard to make the process as fast as possible. While some companies can take months to get you your settlement, we get funds into our client’s hands in as little as one week.
Myth #4: Viatical Settlements Are Stressful
Cancer is stressful. On top of the physical toll, the financial stress that comes with cancer can be completely overwhelming. Obtaining a viatical settlement helps to reduce these stresses. If you check out testimonials from our clients, you see all the different ways viatical settlements help to reduce the stressors that come with a cancer diagnosis.
Myth #5: Viatical Settlements Require Lots of Paperwork
Truth: Again, we make the application process as easy as possible for our clients. Because we need recent medical records and policy details to verify your information, we ask you to send any of these that you already have. And if you don’t have this information, we retrieve it for you.
In terms of paperwork that requires your completion during the viatical settlement process, you fill out the initial, one-page application to get started and you review and sign the contract at the end. That’s it.
We understand that living with cancer is an extremely stressful time. We designed a process that minimizes stress to help our clients have the best and most seamless experience possible. To learn more, call us today at 877-960-2352 or instantly see if you qualify with our simple, two-step form.