Viatical settlements and life settlements allow the terminally ill to sell a life insurance policy in order to receive cash for their immediate needs. At a time when there is enough to worry about already; this can help alleviate stress and free up time to be with family and loved ones. Viaticals are purchased by investors through viatical brokers who specialize in pairing those in need with those who desire to invest in insurance settlements.
Information is provided about:
What is a Typical Investment in a Viatical and What is the Return?
(Learn
the difference between a viatical and a senior settlement)
Generally you need to understand that the longer your viator lives the less
return on investment there may be. Corporations with (5) five million dollars
in net worth, or individuals with salaries in excess of 100,000 dollars per
year are ideal candidates for viatical investment. Viatical settlement investments
are rarely, if ever, appropriate for seniors or others on a fixed income. Lastly,
viaticals are not for first time investors or senior citizens generally.
Who Helps Consumers in Viatical Matters?
Gloria
Grening Wolk is a leading viatical consumer advocate. Author of three books,
she has experience as a teacher, family counselor, financial planner, insurance
consultant, and tax preparer. There are many complex legalities that all parties
should be aware of and understand. Her books are recommended reading.
How Long Do I Need to Invest?
Unfortunately length of investment is one of the uncertainties with viatical
settlements. To cash in the life insurance policy has to mature. In order for
it to "mature" the viator must pass away. So, until the viatical seller
(viator) dies your investment will be tied up.
Other resources: Frequenly Asked Questions about Viaticals / Yahoo listing of Viatical Settlement Companies including Brokers.