Sentences with phrase «of viatical»

When I first heard of viatical settlements or life insurance settlements I shuddered at the thought of such an idea.

Accelerated benefit riders are essentially the modern equivalent of the viatical settlements that terminally ill policyholders used in previous decades to raise cash to pay their medical bills.

Our primary areas of practice consist of viatical and life settlement litigation and civil and commercial litigation.

In the case of viaticals, the taxation is on the profit made from the purchase.

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.

In the following article, we will briefly touch on the life settlement and viatical settlement marketplace and then address how the sales of life insurance policies are taxed.

This article discusses only life settlements and, although some of the information is applicable to viatical settlements, does not aim to cover that topic.

However, viatical settlements are arranged for individuals who have a life expectancy of under two years (i.e., those who are terminally ill) while life settlements are for individuals who have a life expectancy greater than two years (i.e., those who are otherwise «reasonably» healthy).

(See also: The Insurable Interest Requirement for Life Insurance, by Peter Swisher, who also has a good review of laws and regulations surrounding exceptions to the rule like viaticals and STOLI.

Our attorneys have in - depth experience in a full array of litigation related to viatical investments in the U.S. and abroad.

A viatical settlement is the sale of a policy owner's existing life insurance policy to a third party for more than its cash surrender value, but less than its net death benefit.

A Life Insurance Settlement — once available only as a Viatical Settlement — is simply the sale of your policy to an investment company.

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.

The buyer (the viatical settlement provider) becomes the new owner of the life insurance policy, pays future premiums, and collects the death benefit when the insured dies.

With a viatical settlement, a viatical settlement company buys your life insurance policy, gives you a percentage of the death benefit upfront, and then pays all the remaining premiums to become the sole beneficiary of your policy — receiving the full benefit when you die.

Viatical Settlement Provider None of us want to think about our death, but for those with a terminal illness, a viatical settlement will allow you to receive life insurance proceed whileViatical Settlement Provider None of us want to think about our death, but for those with a terminal illness, a viatical settlement will allow you to receive life insurance proceed whileviatical settlement will allow you to receive life insurance proceed while living.

In a viatical settlement, a portion, usually a state percentage, of the death benefit is paid immediately, but there is no residual amount.

A viatical settlement involves the purchase of a life insurance policy from an elderly or terminally ill policy holder.

In the opposite way, the availability of the accelerated death benefit rider might mean being able to avoid a viatical settlement, which would ultimately yield a lower total amount of benefit.

None of us want to think about our death, but for those with a terminal illness, a viatical settlement will allow you to receive life insurance proceed while living.

A viatical or a life settlement is the transfer or sale of an existing life insurance policy to a third party for more than its cash surrender value, but less than its net death benefit.

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.

A viatical settlement is a contractual agreement to provide a life insurance policy holder with immediate cash in exchange for the sale and transfer of life insurance policy ownership rights.

It is important to always seek professional advice or consult with a member of LISA to understand how state regulations define a viatical or life settlement contract.

In a viatical settlement, the life expectancy of the insured is generally 24 months or less.

You might consider converting all or a portion of the policy to permanent life insurance so you can stay insured for the rest of your life, or so that you can do a viatical settlement.

Some states do not distinguish the difference in terminology of a life settlement and viatical settlement.

A viatical settlement (from the Latin «viaticum»)[1] is the sale of a policy owner's existing life insurance policy to a third party for more than its cash surrender value, but less than its net death benefit.

1980s: Viatical settlements and accelerated death benefits are invented in order to meet the financial needs of policyholders with AIDS who need to access immediate cash.

[3] As of June 2011, the states that do not regulate viatical settlements are Wyoming, South Dakota, Missouri, Alabama, and South Carolina.

[2] Because of medical advancements, people with AIDS started living longer and therefore viatical settlements became less profitable.

However, viatical settlements are arranged for individuals who have a life expectancy of under two years (i.e., those who are terminally ill) while life settlements are for individuals who have a life expectancy greater than two years (i.e., those who are otherwise «reasonably» healthy).

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Viaticals can offer investors a high reward investment and therefore are attractive options to many (although some people question the morality of doing so).

Similar to the sale of your life insurance policy, viatical settlements, or life settlements, refer to the sale of your insurance policy to a third - party for more than the cash surrender value but less than the death benefit (based on life expectancy).

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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.

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This article discusses only life settlements and, although some of the information is applicable to viatical settlements, does not aim to cover that topic.

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Most states have some form of regulation for the viatical industry, but few have any regulation for the life insurance settlement business.

The downsides of viatication for the policy holder are that he or she will not receive the full value of the policy and his or her beneficiaries will no longer receive the policy proceeds unless there happens to still be money left over from the viatical settlement when the policyholder dies.

There are companies called viatical investment companies which will buy your life insurance policy for a percentage of it's death benefit value thereby allowing you to have money to pay medical expenses etc, easing your financial burden.

With a viatical settlement, you purchase the whole policy (or at least part of it) for a price that is less than the death benefit of the policy.

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