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What is a Viatical Settlement?

April 26, 2017viatical

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What is a Viatical Settlement?

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A Viatical Settlement is simply the sale of a life insurance policy to a third party in exchange for an immediate lump sum cash payment. The purchaser of the policy receives all rights to and proceeds from the policy while taking over the premium payments. In return, the seller (insured) receives a percentage of the face value of the policy in cash, which he/she may use in absolutely any way.