Viatical Settlement Massachusetts
Get Your Free Estimate!
Call us today at 877-261-0632
What is a Viatical Settlement?
A viatical settlement is more than just selling a life insurance policy, it’s a financial transaction that can unlock immediate funds when traditional options fall short. While many people know the basics, fewer realize that these settlements can apply to a wide range of policy types, including group policies, term policies, universal life, whole life, and even some policies with outstanding loans, as long as they meet certain eligibility criteria.
In Massachusetts viatical settlements are often structured to deliver up to 70% of the policy’s face value in cash, depending on the policy’s terms and the insured’s health profile. The payment you receive is typically free from federal income tax if you are deemed seriously ill, and the money can be used without restrictions: from advanced medical care and home modifications to travel or family experiences. Once the transaction is complete, the viatical settlement company takes over all premium payments, and you no longer have to maintain the policy yourself.
How Does a Viatical Settlement in Massachusetts Work?
A viatical settlement Massachusetts process begins with a careful review of your life insurance policy and health profile to determine how much of the face value can be offered as an immediate payment. At American Life Fund, every step is designed around clarity and respect for the rules that protect Massachusetts residents.
After a short consultation, you complete an application and provide recent medical records. State law requires a clear disclosure form before you sign any viatical settlement contract. We view this not as red tape, but as a safeguard that creates transparency and ensures you know exactly how much value is being unlocked from your insurance policy, how the agreement affects your beneficiary, and what responsibilities transfer to the purchasing party. We believe in compliance because it protects the people we serve.
Once you accept an offer, ownership of the life insurance contract transfers and all future premiums are paid by the new owner. You receive a large lump sum of funds that can be used for healthcare, family support, or any other means without delay. Most transactions are completed within weeks, and under state law you also have a 15-day rescission period. This means you can return the proceeds and cancel the sale if you change your mind, a reflection of Massachusetts’ commitment to consumer protection that we fully support.
Want a free estimate for your policy?
Use our free calculator to see if you qualify and get an estimate of your policy’s worth.
Who Is Eligible To Get A Viatical Settlement in Massachusetts?
Insured’s Health
To qualify for a viatical settlement, the insured must be diagnosed with a life-threatening illness such as cancer or ALS.
Policy Type
All life insurance policy types are accepted. Whether you have whole life, term life, universal, group, or joint life insurance, you could be eligible for a viatical settlement. However, if the policy is issued through an employer, the insured must be separated from the employer or nearing separation from their employer in order to sell their policy.
The Age Of The Life Insurance Policy
The life insurance policy must have been in place for at least two years.
The Value Of The Life Insurance Policy
The life insurance policy must have a death benefit of at least $100,000.
What are the Benefits of a Viatical Settlement in Massachusetts
There are many benefits of entering into a viatical settlement. However, the two most common reasons people do it are for the money and to ease the burden on their loved ones.
Some other benefits include:
- No medical exams are required
- You can use the money however you want
- It’s a speedy process
American Life Fund is one of the leading viatical settlement companies serving the citizens of the USA. We have helped many people through this difficult time in their lives.
How are Viatical Settlement Payments Calculated?
The payout you receive from a viatical settlement is based on several factors, including but not limited to:
- The face policy value of your life insurance policy
- Your health condition
- The type of life insurance policy you have and premium payment amounts
These are just a few of the factors that will affect your payout. For an accurate and free quote, call us at 877-261-0632, and one of our expert representatives will be more than happy to help you.many people through this difficult time in their lives.
The Pros And Cons Of A Viatical Settlement for Bay Staters
Not sure if a viatical settlement is the right move for you or your loved one? Here are some points to think about when weighing your options.
Pros:
- Receive a one-time payout that is typically much higher than the cash surrender value of your life insurance policy.
- Use the funds to cover medical expenses such as health insurance premiums, treatments, or long-term care.
- Have the flexibility to spend the money on better care, travel, or anything that improves your quality of life.
- Eliminate future life insurance premium payments, as the viatical settlement company takes over ownership and related costs.
Cons:
- Receiving a large payout could affect eligibility for need-based programs like Medicaid, which factor in income and assets.
- Once your policy is sold, beneficiaries will no longer receive the final payout unless you set aside a portion of your payout for them.
Why Clients Choose Us: At American Life Fund, we believe honesty and transparency aren’t optional—they’re the foundation of how we work. By choosing a trusted, licensed provider, you can avoid the pitfalls of the industry and move forward with confidence.
Viatical Settlement Examples
This is typically what a viatical settlement payout for a Massachusetts resident might look like:
- A life insurance policy with a $500,000 face value policy could yield a payout of around $300,000–$350,000, depending on health status and policy details.
- A policy with a $250,000 face value policy might provide a payout of $150,000–$175,000.
- A policy valued at $100,000 could result in a payout of $120,000–$140,000.
In many cases, viatical settlements in Massachusetts can provide up to 70% of the policy’s face value, offering immediate access to funds that can be used for medical expenses, living costs, or other personal needs.
Viatical Settlement vs Life Settlement
A viatical settlement allows someone diagnosed with a terminal or life-threatening illness to sell their life insurance policy to a life settlement provider or financing entity for a lump sum, often up to 70% of the face value. These transactions are typically based on the insured’s health condition, policy type, and the policy’s cash value, and can be completed quickly to provide immediate funds for medical expenses, living costs, or other needs.
How do life settlements work?
- A life settlement is a transaction that occurs when an individual over 75 sells a life insurance policy to a settlement provider for cash, usually yielding considerably more than the policy’s surrender value.
- The size of a life settlement payout is mostly determined by the policyholder’s health status and the premium payments of the policy. The money from selling life insurance policies can be used to finance long-term care, medical procedures, travel, or family events.
- Many people are unaware they can sell their life insurance policy for cash. When a policy becomes too expensive or unnecessary, the owner typically lets it lapse without knowing there is another option—the life settlement market.
Alternatives To Viatical Settlements
Not sure if a viatical settlement is right for you? Here are some other options to consider
Withdrawals
You can withdraw from the cash value of your life insurance policy, but this will reduce the death benefit paid to your beneficiaries.
Surrendering the policy
You can cancel your life insurance policy and receive the cash surrender value. This is usually a bad idea because you will get less money than if you had sold the policy in a viatical settlement.
Is a Viatical Settlement Right For You?
With life insurance policies increasing daily, it’s important to consider all options before deciding. For those with a chronic illness, selling your policies may be one way to afford quality care while still securing a financial cushion that will help you improve your quality of life.
If you or a loved one is facing a life-threatening illness and needs a Viatical Settlement, please call us at 877-261-0632 to see how we can help.
We’ve Helped Thousands of
People Just Like You.
“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!”
Andrea, Arizona
“Once I received the first bill for treatments, I knew that I had to come up with a financial plan. I found American Life Fund and instantly felt reassured that I was in good hands. They were able to provide me with the money I needed and literally saved me from bankruptcy. I am now able to enjoy my time with what means the most to me, my family.”
Dan, Alabama
“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.”
Charlene, Wisconsin
Massachusetts Counties Eligible for Viatical Settlements
Barnstable, Berkshire, Bristol, Dukes, Essex, Franklin, Hampden, Hampshire, Middlesex, Nantucket, Norfolk, Plymouth, Suffolk, and Worcester.
Bay Staters across Massachusetts are finding that viatical settlements offer a way to access the value of their life insurance policy when financial support matters most.
Viatical Settlement Suffolk County
Suffolk County is home to Boston, where healthcare costs are among the highest in the country. A viatical settlement can help residents transform their life insurance policy into immediate funds that cover treatments, living expenses, or family needs without waiting for the final payout years down the line.
Viatical Settlement Middlesex County
As the most populous county in Massachusetts, Middlesex blends thriving cities like Cambridge and Lowell with suburban neighborhoods. A viatical settlement allows policyholders to turn years of premium payments into cash today, supporting medical care, housing, or other priorities when timing matters most.
Viatical Settlement Worcester County
Stretching across central Massachusetts, Worcester County combines urban and rural living. For residents here, a viatical settlement can provide much-needed financial stability, giving families the flexibility to pay for healthcare, home modifications, or day-to-day costs during challenging times.
Viatical Settlement Barnstable County
In Barnstable County, where Cape Cod residents balance coastal living with seasonal expenses, health challenges can quickly add financial stress. A viatical settlement makes it possible to use the value of a life insurance policy as cash now, creating resources for both care and quality of life.
Viatical Settlement Hampden County
Located in western Massachusetts, Hampden County includes Springfield and surrounding towns where household incomes often sit below the state average. A viatical settlement can ease the burden of mounting costs by converting a life insurance policy into money available for medical bills, housing, or family support.
Viatical Settlement Essex County
Essex County’s mix of historic cities, small towns, and coastal communities creates unique financial demands for families managing serious illnesses. A viatical settlement can deliver a fair price for the value of a life insurance policy, offering flexibility to pay for services, secure home care, or meet other essential needs.
Insights for Viatical Settlements in Massachusetts
Nearly 17.5% of Massachusetts residents are 65 or older, a higher-share population that relies more on sustained services and predictable cash flow.
Assisted living averages $7,120 per month statewide, and Genworth’s survey pegs home health aide services at $7,245 per month for 44 hours a week, which works out to roughly $38 per hour. Even a few hours a day adds thousands to a monthly budget.
Coverage is strong but not universal. The uninsurance rate sits at 1.7% based on the 2023 Massachusetts Health Insurance Survey, which still leaves tens of thousands of households paying out of pocket for parts of their care journey.
This is where a viatical settlement Massachusetts option can help. Converting part of a life insurance policy into viatical settlement proceeds creates immediate funds for care, home support, or family priorities. In many situations those proceeds are excluded from federal income tax under IRC §101(g) when qualifying criteria are met.
For families weighing the secondary market versus surrendering coverage, it helps to compare numbers side by side. A settlement can deliver more than the cash surrender value because buyers price offers on cash value, face value, and health outlook, not just a carrier’s surrender schedule. That pricing dynamic is how many Massachusetts residents secure a fair price that better matches real financial needs and today’s costs of services across the state.
FAQ about Viatical Settlement in Massachusetts
How do Massachusetts residents usually use their settlement money?
We see many people put their funds toward assisted living, in-home caregivers, or medical services that insurance doesn’t fully cover. Others choose to support a loved one, keep up with household expenses, or simply create time to enjoy life without financial stress. The money is yours to direct wherever it matters most.
Are there hidden fees?
No. At American Life Fund, we explain every fee clearly before you sign anything. Massachusetts requires us to give you full written disclosure of the terms, and we take that seriously. You’ll always know exactly how much you’ll be paid and what it means for your policy.
What factors shape the offer I receive?
Your offer depends on your policy’s face value and cash value, your health status, and the premiums that have been paid over time. We also look at specific characteristics of the policy, such as whether there’s an outstanding loan. All of these factors come together so we can present a fair price that reflects your individual situation.
Do viatical settlements work differently in Massachusetts compared to other states?
The structure is similar across many states, but Massachusetts has its own compliance practices. We follow those closely and provide you with clear, state-approved disclosures. That means you can move forward with confidence knowing your settlement is handled properly.
What if my policy already has a loan or claims against it?
You can still qualify. In most cases, we simply adjust the settlement amount to account for the balance. When needed, we’ll pay off the loan directly as part of the process, so you receive the remaining funds without having to manage extra paperwork.
How quickly can I expect payment?
Once your medical records and policy information are collected, most Massachusetts transactions are completed in just a few weeks. After that, we release the full payment to you, giving you immediate access to cash at the time you need it most.
Why choose American Life Fund?
Because we commit to making the process simple, respectful, and centered on you. From your first call through the final payment, our professionals guide you directly. No unnecessary middlemen, no confusing practices, just a clear path to the funds you need.
Get a personalized Viatical Settlement estimate.
We will get you the best possible offer for your policy.
Qualify Now 
(877) 261-0632