What to Do Before Applying for a Viatical Settlement
At American Life Fund, we work hard to make the viatical settlement process as fast and seamless as possible for our clients. If you want the process to go as quickly as possible, you may want to consider these steps before applying for a viatical settlement. Take a look.
1. See if You Qualify
To instantly see if you qualify for a viatical settlement, consider using our simple form. Our short form simply requires info related to the value of your life insurance policy, your age, diagnosis, and gender. Once you have shared those details, you simply need to provide contact information, and you can immediately see if you qualify or not.
2. Gather Medical Records and Policy Information
At American Life Fund, we understand that you’re going through a lot, and we don’t want to make you jump through any unnecessary hoops. We can use the medical records you already have to verify the details of your condition and make sure that you meet the criteria to qualify for a viatical settlement. Therefore, it’s a good idea to gather any recent medical records from the last two years that you already have before applying.
If you don’t have these records on hand, don’t worry. Once you sign the HIPAA form that comes with the initial application, we can use this to reach out to your medical providers on your behalf to retrieve these records. We ask for the contact information for your doctors on our application form, so it’s a good idea to get a list of your doctors and their phone numbers before beginning the viatical settlement process.
Similar to your medical records, you want to gather any information you have on your life policy beforehand. This allows us to verify this information right away. But again, if you don’t have this information readily available, it’s completely fine. We can work to get this information for you.
3. Decide How You Are Going to Use the Funds
You don’t necessarily have to complete this step before applying for a viatical settlement. You can use your viatical settlement however you like, and if you’re not sure how you want to use it, you can stick it in a savings account until you are ready to spend the funds. However, so that you are ready when you receive the money from your settlement, you may want to spend some time thinking about exactly how you plan to use it. You can pay medical bills, explore experimental treatment, take a vacation with your family, cover costs for your caregiver, pay off your home, or use the money in countless other ways.
4. Make a List of Questions
When you apply for a viatical settlement with American Life Fund, a counselor walks you through every step of the process. To make the most of their assistance, you may want to write down an initial list of questions. If you cover these questions during the initial conversation, you will be ready to move through the process more quickly.
To learn more, call us at 877-658-1360 or immediately see if you qualify . Having cancer can be extremely stressful, and accessing the value of your life insurance policy through a viatical settlement can help.