What Is A Viatical Settlement and How Can It Benefit You?
A viatical settlement is one where a person sells his or her life insurance policy before its maturation. This preemptive sale results in receiving a lump sum payment after the insurer has deducted charges and processing fees. This type of sale is beneficial for the seller as he or she is able to receive money quickly rather than waiting for the annuity to mature. A buyer also likes the surety of receiving a set payment once the annuity is matured. There are, however, certain factors that need to be taken care of while dealing in this trade. Who can sell? A viatical settlement can be sold by any annuity holder, irrespective of age, financial condition, or health problems. Most people sell out of financial reasons as they have to pay for mortgage, medical bills, and other expenditures. They find it better to sell this settlement to receive money that could finance their needs. It is a common observance that people in the latter stages of a serious disease try to sell their plans and spe
