Results for tag: "Viatical Settlement"

The Viatical Settlement market is a subset of the life insurance industry. It involves the sale of life insurance policies by policyholders to third-party investors. The policyholder receives a lump sum payment in exchange for the policy, which is then held by the investor until the policyholder's death. The investor then collects the death benefit from the insurance company. Viatical Settlements are typically used by policyholders who are terminally ill and need money to cover medical expenses or other costs. Viatical Settlements are regulated by state insurance departments and are subject to certain restrictions. For example, the policyholder must be terminally ill and the policy must have a face value of at least $10,000. Additionally, the policyholder must be at least 65 years old or have a life expectancy of less than two years. Some companies in the Viatical Settlement market include Life Insurance Settlements, Inc., Life Settlement Solutions, and Life Settlement Advisors. Show Less Read more