You will usually only be offered a small percentage of the total value of your insurance policy, if you decide to sell it. The upside of this is that you will get the percentage right away, but the beneficiaries that were originally listed on the policy will receive no value after your death. The actual [...]
Archive for the ‘Selling Life Insurance Policies’ Category.
The answer is less than the amount that would paid at the time of death to the insured. To the viatical firm, the payout is the proceeds of the death claim at the time the insured dies, which means that the firm takes on the risk that insured might live longer.
People with a life threatening illness deserve the right to have life insurance. If a person knows they are about to die, you may want to sell your life insurance policy as a part of a viatical settlement. The viatrical settlements can help you pay for the hospice care that you need so your final [...]
The insured must consider the following: 1) the original intent of insurance policy and the purpose for purchasing the policy originally. For example, the policy was purchased to protect the beneficiary from financial loss when the insured dies. What happens in the absence of a policy? 2) who will be responsible for the decease’s [...]
The return to the viatical company will, in short, be higher than previously expected. This is because the viatical company makes their agreement with the viator on the calculation of the life expectancy of the viator. When they make this agreement, they agree to make a certain return based on that calculation.
A viator is a person who is terminally ill and has sold their rights of their life insurance policy to an investor. The investor in turn purchases the policy for a percentage of the total proceeds of the policy, based upon the life expectancy of the viator. The investor who purchased the life insurance policy [...]
When A Viator Executes A Contract Of Sale Of Their Life Insurance Policy, Can They Change Their Mind?
Most people are unaware of the definition of a viator. When it comes to a life insurance policy a terminally ill policyholder may wish to access the funds of the policy prior to their death. The policyholder then is defined as the viator. The viator would then contact an agent that deals with investment companies [...]
Usually, a life insurance policy will provide you, the policyholder, with more than one option in addition to your beneficiary receiving a single lump cheque or even a chequebook instead of a single lump check. Another option is to provide the beneficiary of the policy with the right to receive monthly payments for the rest [...]
Companies that purchase life insurance policies from terminally ill people are known, as viatical firms. These firms make an offer to the policy holder that is lucrative enough to make the policy holder accept the deal, but also favors the company. When the policy holder dies the firm becomes the beneficiary of the policy. Many [...]