Sentences with phrase «as viatical»
(Persons with life expectancies under two years sell their policies as viatical settlements.)
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Those that specialize in life settlements (also known as viatical settlements) will be happy to buy your policy at a price that is usually much better than the price the insurance company is willing to give you (the cash surrender value).
Life settlement investors buy life insurance policies for more than their surrender value but less than the death benefit of the policies, a strategy known as viatical settlement.
This is known as a viatical settlement.
This concept may sound familiar to some readers because it is related to what the life insurance industry refers to as viatical settlements.
A Life Insurance Settlement — once available only as a Viatical Settlement — is simply the sale of your policy to an investment company.
Those that specialize in life settlements (also known as viatical settlements) will be happy to buy your policy at a price that is usually much better than the price the insurance company is willing to give you (the cash surrender value).
Not exact matches
The right of a judgment debtor to accelerate payment of part or all of the death benefit or special surrender value under a life insurance policy, as authorized by paragraph one of subsection (a) of one thousand one hundred thirteen of the insurance law [* see below], or to enter into a viatical settlement pursuant to the provisions of article seventy - eight of the insurance law, is exempt from application to the satisfaction of a money judgment.
Viatical settlements were all the rage, only for the insured to live another decade or two as new drugs & treatments were developed.
A life (or viatical) settlement is the sale of a life insurance policy to a third party, such as an individual, investor or investment group.
This process is also referred to as a life insurance settlement or a viatical settlement.
Your agent can tell you if an accelerated benefit or policy loan is available as an alternative to a viatical settlement and which is better suited to your needs.
A payer, such as an insurance company or a viatical settlement provider, must issue this form for payments made under a long - term care insurance contract or for accelerated death benefits.
The person with the life threatening illness that is benefiting from a viatical contract is known as a viator, and they will receive a portion of the life insurance early.
[3] Dr. Grigsby agreed and as a result, the first viatical settlement transaction was created.
[3] As of June 2011, the states that do not regulate viatical settlements are Wyoming, South Dakota, Missouri, Alabama, and South Carolina.
A viatical settlement is for someone who is terminally ill and works in a similar manor as a life settlement.
A viatical settlement is defined as the transfer or sale of a life insurance death benefit to another person or another company if the insured person is terribly ill and is about to die.
Posted in insurance, life insurance, life settlements Tagged accelerated death benefit, accidentally kill someone, American greed, aren't helping the people, buying veterans retirement and disability benefits, insurable interest, insurance, life insurance, life insurance as collateral, life insurance policies as investments, life settlement, pawn shop, predatory lending, viatical
As a practical matter viatical sales to AIDS patients fell victim to better and better drugs that extended their lives well beyond any models used by those selling the contracts.