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Is a life settlement the same as a viatical settlement?

April 26, 2017life viatical

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Is a life settlement the same as a viatical settlement?

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A. No. A life settlement is different than a viatical settlement. A viatical settlement is for terminally ill individuals (life expectancy of less than 24 months). A life settlement is where the individual is not terminally ill (life expectancy longer than 24 months).