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We help individuals access available cash benefits from their existing life insurance policies.
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Need help paying for life's unexpected expenses?
Convert your life insurance policy to cash immediately.
A member from our team is available to assist you with this important financial decision for you and your family.
What is a Viatical Settlement?
A viatical settlement is the sale of a life insurance policy to a third party for the purpose of collecting immediate cash benefits. The owner of the life insurance policy sells the policy for a lump-sum cash payment that is less than the death benefit amount, but usually more than the cash surrender value of the policy.
The buyer becomes the new owner and/or beneficiary of the life insurance policy, pays all required premiums, and collects the full amount of the death benefit when the insured passes away.
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Who is eligible?
Individuals who are age 65 or older or have a catastrophic illness, life-threatening disease or condition that is terminal. Other situations may be eligible as well depending on circumstances.
A person who is listed as Owner of a life insurance policy that has been in effect for at least two years. Individuals simply listed as the Insured are not eligible to sell their life insurance policies.
Residents of the State of Indiana are eligible to work with LifeBridge Legacy, LLC to transact the sale of existing life insurance policies as a Viatical Settlement process.
Reasons to Sell Your Life Insurance
There are many reasons for policy holders to consider sale of their life insurance policies.
Medical Expenses
A viatical settlement can help cover unexpected out-of-pocket medical expenses.
Coverage No Longer Needed
Coverage may no longer be needed if children are grown and are no longer dependent, or if you no longer have outstanding debts to cover in the event of your death.
Costly Premiums
Life insurance policies can become unaffordable as premiums rise and exceed your ability to pay them on an annual basis. Viatical settlements help to remove the burden of costly premium bills.
Government Programs Eligibility
Cash value of life insurance is often treated as a countable asset, and can impede your ability to meet eligibility guidelines for certain government benefit programs including Medicaid. Viatical settlements allow you to properly deal with these assets in a timely manner.
Viatical Settlements Offer The Solutions You Need
Viatical settlements provide individuals the opportunity to collect a lump sum cash benefit from their existing life insurance policy rather than simply surrendering or cancelling their policy.
These settlements offer financial relief for individuals needing immediate cash to help pay for medical costs and other unforeseen life events. Life insurance owners are encouraged to contact one of our team members today to discuss the value of their life insurance policy. Values for life insurance policies will vary based on the age of the owner(s), health conditions present and death benefits available.
Convert your life insurance policy to cash immediately.
A member from our team is available to assist you with this important financial decision for you and your family.