How to make a life insurance viatical settlement?
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Written on: 14.11.2009 [11:39]
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Benetton
Benetton
Topic creator
Posts: 5
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I need to free up some money for medical treatments and I have no idea how to go about making a life insurance viatical settlement? I know that it is possible to do so but how do I go about selling it? Who would buy it? What kind of prices do I have to think of? Are the companies used to doing this? |
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Written on: 21.11.2009 [11:35]
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Tilly
Tilly
Posts: 3
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This happens more often than people think, especially when it comes to people who find out they are terminally ill. My husband unfortunately passed away recently and he had a life insurance policy for £120,000. Because we needed the money for medicine etc he decided to sell his life insurance so that we could pay for the medicine and then the rest would help us once he was gone. The company who bought it from us only gave us £95,000 but that’s the price you pay for taking it early, that’s the way it works. Then once he passed away they claimed the money off the insurance company. |
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