Are there any provisions in my policy that could prevent me from engaging a Viatical Settlement?
Most life insurance policies contain a contestability and suicide exclusion period that extends, typically, for two years. The contestable period is a window within which the insurance carrier can challenge or rescind the individual’s life insurance coverage (usually for either misstatement or medical fraud relating to the application). The suicide exclusion is a defined period within which the insurance carrier can deny a claim concerning death by suicide. Many Viatical Settlement Providers prefer that a policy be in force for at least two years before considering the purchase of a policy.
