Tampa Viatical

About Tampa Viatical

Category: Insurance Agent

We buy life insurance policies. If you are age 65 or higher with a $100, 000 or higher life insurance death benefit, you are eligible for a FREE policy review to determine eligibility. Why Should I Consider a Viatical Settlement? A viatical settlement can offer several advantages to individuals facing financial difficulty, particularly those diagnosed with a terminal illness. Here are a few key reasons why someone might consider selling their life insurance policy through a viatical settlement: 1. Immediate Cash Payout One of the most significant benefits of a viatical settlement is the immediate cash payout. When you're facing a terminal illness, your financial needs can grow exponentially. Medical expenses, hospital bills, and palliative care can be overwhelming, and many people find it difficult to make ends meet. By selling your life insurance policy, you can receive a lump sum payment that can help cover these costs and provide a sense of financial security during a difficult time. 2. No Need to Continue Paying Premiums If you're struggling with a terminal illness, continuing to pay premiums on a life insurance policy might feel like an unnecessary financial burden. Through a viatical settlement, you can eliminate the need for those ongoing payments. Once the settlement is complete, the buyer takes over the responsibility for paying premiums, meaning you no longer have to worry about maintaining the policy. 3. Use the Funds for Any Purpose The beauty of a viatical settlement agreement is that the proceeds from the sale of the life insurance policy can be used for any purpose. While many policyholders use the funds to cover medical costs, some also choose to use the money for things like travel, improving their quality of life, or paying off debts. The flexibility of how you use the proceeds from a viatical settlement makes it a highly customizable financial solution. 4. No Restriction on Beneficiaries If you choose to sell your life insurance policy, the viatical settlement will relieve you of the responsibility to name beneficiaries for the policy's death benefit. The buyer assumes the policy's beneficiary status and will receive the death benefit when you pass. This can be especially helpful for individuals without dependents or those who no longer wish to provide for someone financially after they are gone. ________________________________________