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American Life Fund > Blog > Uncategorized > What is a Viatical Settlement?

What is a Viatical Settlement?

If you or a loved one are battling a life threatening disease you’re well aware that coping with the high cost of cancer, and researching resources to help cover all of your expenses, is a full time job. The cost of care can dramatically impact family members too. But, what if you didn’t have to “work full time”? What if you had the opportunity to focus on LIVING your life, instead of worrying about how you’ll pay for it? At American Life Fund, we strive to enhance the lives of individuals by converting existing life insurance policies into income.  This is called a Viatical Settlement or Life Settlement. This process gives you money you can use today, rather than banking it for the future. It gives you and your family the financial freedom you need to live life in peace.

What is a Viatical Settlement?

A viatical settlement is the sale of an existing life insurance policy to a third party, for more than its’ surrender value but less than its’ net death benefit. Term, Group, Whole and Universal life policies are necessary for a viatical settlement.  After a company like American Life Fund buys a policy, we release the funds to you.   Because you are no longer the policy owner, you’re no longer responsible for premium payments.  Financial burdens are lifted, and you have the freedom to live as you wish. Whether you have your sights set on exploring alternative treatment, enjoying precious time with family or need to cover other expenses, these funds are yours to use as you wish.

You can explore these case examples to understand the buy/offer process.

Getting Necessary Guidance

Confused about the status of your insurance policy? Not sure if a viatical settlement works for your situation? Not to worry. Our compassionate counselors will not present a viatical program if it is not right for you. Yes, there are qualifications one must have in order to be considered and we’re more than happy to walk through these with you. We listen first, consult and then take action. American Life Fund Counselors guide you through every step of selling your insurance policy.  We make this process as simple, stress free and hassle free as possible. Call or fill out our simple form if you want to find out how a viatical settlement can benefit you and your loved ones.