Looking to sell a life insurance policy? Qualified candidates have several options, including lump sum payment life settlements, retained death benefit life settlements and viatical life settlements.
A viatical life settlement is an arrangement in which a chronically or terminally ill person sells their life insurance policy at a discounted rate in exchange for cash. Many states prefer to use the term Viatical Settlement when referring to a settlement in which a chronically or terminally-ill person sells their life insurance policy at a discounted rate in exchange for cash. Please keep in mind that a few states use the term *Viatical settlement interchangeably or synonymously with the phrase *Life settlement. As such, in some states, a Viatical Settlement could be a reference to settlement in which the person does not appear to be chronically or terminally ill, but in many states this is not the case.
Located in Capistrano, CA, Montage Financial Group is a viatical life settlement provider. Trust Montage to efficiently facilitate the sales process between policy sellers and investors.
How Does The Viatical Life Settlement Process Work?
Viatical life settlements allow policy owners to sell their life insurance policies to investors. Investors purchase a portion of the policy or the full policy at a cost that is less than the specified death benefit. The original owner’s date of death will dictate the investor’s rate of return. If the seller outlives their estimated life expectancy, the rate of return is lower. If the seller dies earlier than expected, the rate of return is higher.
A viatical life settlement enables a person who is terminally ill to obtain immediate cash that they can use to pay for their healthcare expenses in their final days. The payment received from selling a life insurance policy can also be used to preserve the person’s estate or assets like a home. Many terminally ill individuals use their viatical life settlement to pay off outstanding debts or to cover unexpected emergency expenses.
Contact Montage Financial Group Today To Learn More
If you have been diagnosed with a terminal or chronic illness and need money to cover urgent medical expenses or the costs of long-term care, a viatical life settlement may be a viable financial solution. To get started, contact Montage Financial Group online or give us a call at (949) 537-2225 today.