Viatical Settlement Wisconsin
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What is a Viatical Settlement?
A viatical settlement gives a Wisconsin resident facing a life threatening illness the ability to sell their life insurance policy for immediate cash. The policy owner, known as the viator, receives a payment that reflects the face value of their coverage, while the purchaser becomes the new certificate holder and assumes future premium payments
In Wisconsin, this transaction is recognized as a legal form of valuable consideration. The life insurance policyholder enters a binding contract with a licensed settlement company such as American Life Fund, which is regulated to protect the rights of insured residents.
For many Wisconsin residents, a viatical settlement represents more than just financial relief. It can help them manage medical expenses, improve access to better care, or maintain family stability while still retaining control over how their money is used.
How Does a Viatical Settlement in Wisconsin Work?
A viatical settlement wisconsin begins when a life insurance policyholder decides to sell their life insurance policy for cash through a regulated transaction. The process follows Wisconsin’s insurance act, which protects policy owners and beneficiaries through strict disclosure and fair-value requirements.
It starts with an application that includes basic details about the policy, the insured, and the life threatening illness involved. Once received, we gather necessary medical records to determine eligibility, life expectancy, and policy value. Each insurance policy, whether Term Life, Whole Life, Universal, FEGLI, or Group, is reviewed individually, because the face value, premium payments, and cash surrender value affect the final payout (up to 70%!).
When a Wisconsin resident qualifies, they receive a clear form outlining every detail of the settlement. The policy owner then signs contracts transferring ownership of the policy to the purchaser, along with any other valuable consideration agreed upon. This legal step moves the insurance from the seller to an investor within the secondary market.
After the transfer, the funds are paid directly to the owner as a large lump-sum payment. The entire process is transparent and efficient, giving you, Wisconsin residents, the ability to turn your insurance policy into immediate cash value that can be used for medical expenses, better care, or daily income needs, whatever you like.
It really is that simple!
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Who Is Eligible To Get A Viatical Settlement in Wisconsin?
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, FEGLI 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 face value of at least $200,000.
What are the Benefits of a Viatical Settlement in Wisconsin
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
- You can choose the settlement company you want to work with
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
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 Wisconsin Residents
Not sure if a viatical settlement is a right move for you or your loved one? Here are some things to keep in mind.
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 company, 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 person from Wisconsin 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 $200,000 could result in a payout of $120,000–$140,000.
As you can see, viatical settlements can be very beneficial for seriously ill people who need financial assistance.
What About Life Settlements?
Viatical settlements and life settlements may sound similar but they are separate transactions. A life settlement is similar to a viatical settlement, but the two are distinct.
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 company for cash, usually yielding considerably more than the policy’s surrender value.
- This differs from the focus on a life threatening illness which is the main focus of a viatical
- 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.
- Life settlements are usually subject to tax, while viaticals are usually tax-free
- 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.
Although viatical settlements offer many benefits, they aren’t the only form of financial assistance available. Be sure to speak with a professional before making any decisions.
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
Wisconsin Counties Eligible for Viatical Settlements
Adams, Ashland, Barron, Bayfield, Brown, Buffalo, Burnett, Calumet, Chippewa, Clark, Columbia, Crawford, Dane, Dodge, Door, Douglas, Dunn, Eau Claire, Florence, Fond du Lac, Forest, Grant, Green, Green Lake, Iowa, Iron, Jackson, Jefferson, Juneau, Kenosha, Kewaunee, La Crosse, Lafayette, Langlade, Lincoln, Manitowoc, Marathon, Marinette, Marquette, Menominee, Milwaukee, Monroe, Oconto, Oneida, Outagamie, Ozaukee, Pepin, Pierce, Polk, Portage, Price, Racine, Richland, Rock, Rusk, Saint Croix, Sauk, Sawyer, Shawano, Sheboygan, Taylor, Trempealeau, Vernon, Vilas, Walworth, Washburn, Washington, Waukesha, Waupaca, Waushara, Winnebago, Wood.
Viatical Settlement Milwaukee County
Milwaukee has long been Wisconsin’s heartbeat, a place where hard work and family loyalty define daily life. Many Wisconsin residents here receive treatment through Froedtert Hospital and Aurora St. Luke’s, two leading centers for advanced cancer care and clinical innovation. A viatical settlement offers Milwaukee families a direct path to financial stability when medical expenses rise. The lump-sum cash payment from a life insurance policy can support better care, relieve financial strain, and give the policy owner freedom to focus on what matters most.
Viatical Settlement Dane County
In Madison, progress defines the community. With cutting-edge research coming out of the University of Wisconsin Hospital and Carbone Cancer Center, residents have access to some of the best treatment options in the Midwest. Yet progress often comes with cost. Many policyholders use a viatical settlement wisconsin to cover out-of-pocket medical expenses or experimental therapies not covered by insurance. The ability to sell a life insurance policy and receive funds quickly means continuing advanced care without delay. The payout transforms the intangible value of a policy into real financial strength.
Viatical Settlement Brown County
Green Bay may be known for its loyalty to the Packers, but it’s also home to tight-knit families who look out for one another. Residents often describe the relief of a viatical settlement as “breathing room”, the freedom to make choices without financial pressure. Policy owners here use their settlement funds to handle ongoing medical expenses, pay off debt, or create time to enjoy life’s smaller moments. The face value of a life insurance policy becomes meaningful support, turning years of premium payments into money that can fund care or comfort now, when it matters most.
Viatical Settlement Waukesha County
Surrounded by lakes and quiet communities, Waukesha represents balance, the mix of city convenience and Wisconsin calm. For many residents facing a serious illness, that same balance becomes the goal: to live comfortably and maintain stability for their families. Through a life settlement, the policyholder receives a cash payment directly from the secondary market, where financial institutions and investors purchase life insurance policies for valuable consideration.
Viatical Settlement Outagamie County
Appleton, part of the Fox River Valley, is a community that values independence. Many insured residents here see a viatical settlement as a way to maintain that independence even during challenging health periods. The cash surrender value from a life insurance policy can replace lost income or pay for home treatment and nursing care. For others, it means having the money to travel, reconnect with family, or explore something long postponed. Each settlement is a personal choice, one that provides Wisconsin residents with the ability to use their policy as a financial asset, not a forgotten paper promise.
Viatical Settlement Eau Claire County
In Eau Claire and the surrounding Chippewa Valley, life moves at an intentional pace. Here, people find peace in planning ahead. Many who face a life threatening illness see the benefit of a viatical settlement as both financial and emotional. Turning a life insurance policy into immediate cash value offers reassurance, allowing time for reflection or even exploration, fishing trips on Lake Wissota, family weekends in Door County, or simply rest without worry. The contracts are clear, the payment is prompt, and the act of securing your financial foundation can be profoundly freeing.
Insights for Viatical Settlements in Wisconsin
Wisconsin has some of the highest healthcare costs in the United States. According to a 2022 analysis by the RAND Corporation and Wisconsin Manufacturers & Commerce, hospital prices in Wisconsin average about 318% of Medicare rates. This means that private insurers and patients often pay more than three times what Medicare would pay for the same services, making serious illness or long-term care a major financial strain.
A survey conducted by the Healthcare Value Hub in 2022 found that nearly 59% of adults in Wisconsin experienced at least one healthcare affordability burden within the past year. Many respondents reported skipping or delaying medical treatment because of cost concerns, and about one in four said they did not fill prescriptions, cut pills in half, or skipped doses to save money.
While programs like Medicaid and BadgerCare Plus help reduce some of these costs, many residents facing serious or terminal illnesses still struggle with out-of-pocket expenses, insurance premiums, and ongoing living costs. For those individuals, a viatical settlement can offer a meaningful source of financial relief.
A viatical settlement allows someone with a life-threatening illness to sell their life insurance policy to a licensed provider in exchange for a lump-sum payment that is typically higher than the policy’s cash surrender value. The funds can be used to cover medical bills, home care, hospice, or other personal needs, helping individuals focus on quality of life rather than financial stress
FAQ about Viatical Settlement in Wisconsin
How does the viatical settlement process work in Wisconsin?
In Wisconsin, a viatical settlement is a clear, documented transaction in which a policy owner sells a life insurance policy to an investor or broker for cash. The value is based on measurable data: face value, premium payments, and current medical records. The applicant submits these details through a simple form. Once reviewed, we confirm eligibility and finalize contracts so the payment can be transferred. Every step follows Wisconsin’s insurance act, which protects the policyholder while allowing you to access the cash value of your insurance policy faster than a death benefit would ever provide.
Are viatical settlements taxable in Wisconsin?
Under federal tax law, proceeds from a viatical settlement are generally not taxable when the insured is diagnosed with a serious illness. For many Wisconsin residents, this means that the full payout from selling a life insurance policy can be used immediately to cover medical expenses, replace lost income, or plan for better care.
Can I change my mind after accepting a viatical settlement offer in Wisconsin?
Wisconsin law allows a short rescission period of 15 days after receiving funds from a settlement. If the policyholder decides the transaction no longer serves its intended purpose, they may return the payment and keep their life insurance policy active. This brief period provides flexibility and confidence, ensuring every person entering a viatical settlement Wisconsin does so with peace of mind and no lasting obligation until the decision feels right.
How is my privacy protected during the viatical settlement process in Wisconsin?
Wisconsin’s regulations protect medical records and personal details shared by the applicant. All information used to evaluate life expectancy, policy data, or health history is treated as confidential and stored securely throughout the process. Only authorized parties to the transaction, such as the settlement company and verified purchaser can access it.
What rights do policyholders have in Wisconsin viatical settlement transactions?
A life insurance policyholder in Wisconsin has rights defined by law. They have the right to know the full amount of compensation, all fees, and the timing of the payment before signing. You receive a written disclosure of how the payout is calculated and may request details about life insurance settlement transactions that establish fair market value. Most importantly, every insured individual retains the freedom to decide when and how to use the funds. The act governing viatical settlements protects these rights and ensures all transactions occur under fair and lawful terms.
What happens if my health changes after the settlement is complete?
Once the contracts are finalized and funds are transferred, the settlement is complete. The purchaser assumes the future risk tied to the insured’s health or life expectancy. For the former policy owner, the cash payment remains yours, it is not adjusted if treatment leads to longer recovery. The final payout becomes the property of the investor or financial institution, while the person who sold the policy keeps the agreed valuable consideration received at the time of sale.
How does the face value of my life insurance policy affect the purchase price?
The face value of a life insurance policy sets the foundation for its market worth in a viatical settlement in Wisconsin. We use clear metrics , policy size, premium payments, and the insured’s health status to determine an appropriate payout. A policy with higher face value and stable premium payments typically offers a stronger return (up to 70%). The evaluation reflects both actuarial data and the valuable consideration offered by the purchaser in the secondary market.
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