For individuals with lung cancer, a viatical settlement can provide direct financial assistance during cancer treatment. A viatical settlement can help you and your family members afford chemotherapy and home care during active treatment.
WHAT IS A VIATICAL SETTLEMENT?
Cancer patients with life insurance policies can enter agreements with a viatical settlement company to sell their life insurance policy. In other words, you’ll receive a large lump-sum payment, and the buyer takes over paying monthly insurance premiums to keep your policy in place.
HOW IS A VIATICAL SETTLEMENT DIFFERENT?
While other types of financial assistance programs provide limited financial assistance, viatical settlements can:
- Provide immediate financial aid—often within a matter of weeks.
- Provide access to a large lump-sum cash payment.
- Do not restrict the use of your funds.
- Help you eliminate medical debt.
- Ease your financial situation by eliminating monthly insurance premiums.