Typical payout time with American Life Fund is within a few weeks. Here’s how it works:
Step 1: Qualify Instantly
Once you go through the quick qualifying process, you can talk with one of our human services counselors and financial advisors to make sure you want to go through with your viatical settlement.
Step 2: Two-Page Application
Fill out the simple two-page application and a document containing relevant personal information. This information will include your identity, medical records, and policy details.
You’ll also submit an acknowledgment verifying the accuracy of the information you’re presenting.
On the other end, the third party buying the policy reviews and verifies the information.
Accepted applications receive written confirmation of the settlement. Incomplete applications or misleading/inaccurate information about the nature of the life insurance policyholder’s illness can lead to the rejection of the application.
Step 3: Review Offer
Once all of the information in the application has been verified and confirmation has been sent, you’ll get an offer for your policy.
If you accept, you’ll sign a written agreement of the contract.
Step 4: Accept Payout
At this point, a request is made to change the beneficiary of the policy to the purchaser.
The release of funds is then authorized, you get your money, and we will record the final date of the transaction.
Once you’ve received your funds, they are yours to do with as you please. The money is tax-free and should have no tax implications, so there are no mysterious withholdings or a surprise reduction in your life insurance policy settlement amount.
American Life Fund wants to make this as easy a process for you as possible. Call one of our professional, compassionate counselors today to get a free estimate for your viatical settlement lump sum.