Sentences with word «viatical»

Viatical companies WILL also take term insurance policies.

This combination of events caused a surge in viatical settlements as both investors and viators saw an opportunity for mutual benefit.

National broker providing life settlements and viatical life insurance settlements to senior policyholders and financial professionals.

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(Persons with life expectancies under two years sell their policies as viatical settlements.)

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

A 2002 study showed that among hospice financial counselors who have had experience with viatical settlements, most report positive experiences.

Most state insurance departments regulate viatical settlement companies — contact the insurance department in your state for further information.

A U.S. Supreme Court decision from 1911 provides the legal basis for viatical settlements.

In addition, there are different regulations covering viatical settlements.

The life settlement industry began during the AIDS epidemic of the 1980s, when viatical settlement companies would offer to buy the life insurance policy from a terminally ill policy holder who was expected to die within six months.

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

Many state insurance commissioners and government agencies license the companies that buy viatical settlements to sell to investors.

Unlike viatical settlements, which are sales of policies by those who are terminally ill, life settlements are sales of policies by folks who have impaired health.

At one time, most viatical settlements were from people with a life - threatening illness.

One of the most infamous viaticals cases involved the Mutual Benefits Corporation headed by Peter Lombardi in Florida, which had 28,000 investors and had focused on paying HIV clients.

[3] Viatical settlements were rare for almost eight decades until the onset of the AIDS epidemic.

Let us first take a look first of all at how viatical settlements investments really work.

Response: I think you may be incorrect with trying to suggest whole life insurance is better because you get viaticals.

GWG Life's services include viatical and life settlement contracts.

(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.

We served as the court - appointed Receiver for the Mutual Benefits Corporation, formerly the nation's largest viatical settlement company, and successfully recovered over $ 120 million for more than 30,000 investors.

[3] Dr. Grigsby agreed and as a result, the first viatical settlement transaction was created.

1995: Legislation passes that exempts viatical settlements and accelerated death benefits from federal income tax.

Early improper activities among a few bad actors produced a fear among consumers regarding viatical settlements.

[2] A viatical settlement involves a terminally or chronically ill person (with less than two years life expectancy) who sells his or her existing life insurance policy to a third party for a lump sum.

Because viatical settlements are a fairly new idea the tax implications are not yet set in stone.

Life insurance settlements may be entirely tax - deductible, while viatical settlements are much more likely to be closer to the death benefit and therefore much greater value than the premiums paid.

The word viatical comes from the Latin word «viaticus», meaning «provisions for a long journey».

Viators and insurance buyers execute the sale through viatical settlement.

I've never minced words about how I feel about viatical -LSB-...]

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.

A term policy is rarely considered an asset unless it can be sold in viatical settlement, and normally the insured person would need to have a terminal condition for it to have salable value.

One of these policy benefits are investments called viaticals.

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