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| Rely on the specialists. As pioneers in the second market for American life insurance policies, let us tell you about our expertise and experience from 15 years of success on the market. |
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| While laws and regulations from one state to another differ as to the definition of a "viatical settlement" versus a "life settlement", each generally involves the sale of an existing life insurance policy or of benefits payable under a life insurance policy to a third party. In return, the policyowner receives an immediate payment that is a percentage of the face value of the policy and higher than the cash surrender value offered by the insurance carrier. The difference between the two types of settlements stems from the condition of the individual policyowner. If the insured under the policy has a particular type of illness or condition (again, depending on the laws of the state in which the policyseller resides) the transaction is considered a "viatical settlement", but if the person does not have an illness or condition fitting those definitions, the transaction instead is considered to be a "life settlement". Some states treat these differently than others, so it is important that we have as much correct information about the policyowner and the insured, so that we can help you determine whether we are able to work with you.
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Viatical settlements and life settlements - What is the difference? |
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