Understanding Viatical Settlements

To understand viatical settlements we must first know a little about life insurance industry. The life insurance industry has become enormous by realizing that most people lapse their policies before they die. In America, 76% of all deaths occur among people age 65 and older. But, that group owns only 5% of all life insurance. So it is relatively easy for life insurance companies to offer new insurance to healthy people. Insurance companies "win the bet" when insureds die without coverage.

Viatical Settlement Companies

When a terminally ill insured's policy is being considered for a viatical settlement, the situation is very different. To remain in business, the viatical settlement Funder must believe it can afford to offer significant cash for the policy today, and to pay premiums until the insured dies later on. Funders who "guess wrong" too often risk going out of business, and indeed many have.

No Medical Exams

Unlike life insurance companies, viatical settlement Funders cannot require that the insured take medical examinations. Instead, viatical settlement Funders require that American Viatical submit five years of the insured's medical records, retrieved at our expense from each physician. Each viatical settlement Funder submits these medical records to one or more viatical medical life span evaluation companies. We must also obtain policy illustrations and other detailed information directly from the life insurance company. It takes several weeks to collect the medical records and life insurance policy data, then several more weeks for the entire viatical settlement underwriting process to be completed. We understand this business, and expedite the viatical settlement process at every step. More About Understanding Viatical Settlements

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