Get the free Viatical Settlement: What it is, How it Works

VIATICAL SETTLEMENT APPLICATION A. PERSONAL INFORMATION INSURED (PRINT OR TYPE) Name of Insured: ___MaleFemaleDate of Birth: ___SSN: ___ Address: ___ City: ___ State: ___ Zip: ___ Telephone Number:

How to fill out viatical settlement what it

How to fill out viatical settlement what it

1. Contact a viatical settlement provider or broker to start the process.
2. Provide necessary information and documentation such as medical records, life insurance policy details, and other relevant information.
3. Await an offer from the viatical settlement provider based on the value of your life insurance policy.
4. Review and discuss the offer with your financial advisor or legal counsel to ensure it meets your needs.
5. Accept the offer and complete the necessary paperwork to finalize the viatical settlement.

Who needs viatical settlement what it?

1. Individuals who are facing terminal illness and need immediate funds for medical expenses or other financial needs.
2. People who have a life insurance policy that they no longer need or want to cash out on for a lump sum payment.

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What is viatical settlement?

A viatical settlement is a financial transaction where a person with a terminal illness sells their life insurance policy for a lump sum that is less than its face value but more than its cash surrender value. This allows the person to access funds while still alive.

Who is required to file viatical settlement?

Typically, the insurance policyholder who is selling their policy is required to file a viatical settlement. Additionally, the company buying the policy may have specific reporting requirements.

How to fill out viatical settlement?

To fill out a viatical settlement, the policyholder must complete the necessary application forms provided by the viatical settlement provider, providing information about their health, the insurance policy, and financial details.

What is the purpose of viatical settlement?

The purpose of a viatical settlement is to provide individuals with a way to access cash while they are still living, especially to cover medical expenses or quality of life improvements when they are facing terminal illnesses.

What information must be reported on viatical settlement?

Information that must be reported includes the policyholder's health status, details of the life insurance policy, the amount of the settlement, and the parties involved in the transaction.