Viatical Settlement Process
Learn about the viatical settlement process and how easy it is to convert your life insurance policy to immediate cash.
The viatical settlement process starts with our initial free consultation and ends with payment to you. There are no credit checks or medical exams required. Your eligibility is determined solely on whether your medical profile and policy qualify. A viatical settlement or life insurance loan can typically be completed within a few weeks of completing our underwriting process.
Find out how easy it is to convert your life insurance policy to cash.
Frequently Asked Questions
Read common questions and answers about the viatical settlement process.
Are there any up-front fees or obligation to sell my policy?
There are no application fees or up-front costs. If at any point you aren’t satisfied with the offers we present, you are free to walk away at no obligation or cost to you. If you accept an offer, our fee will be paid directly by the purchaser.
Is a health exam or credit check required?
No. Unlike when you purchased your life insurance coverage, a health exam isn’t required for you to qualify for a viatical settlement or life insurance loan. Medical underwriting decisions are based on an independent review of the medical records we will obtain from your health care providers. Also, there are no credit checks for a viatical settlement or life insurance loan.
How long will it take to get the funds from my policy?
Depending on your state’s laws, funds are typically released from escrow within 72 hours of the buyer’s receipt of confirmation of change of ownership and beneficiary rights from the insurance company.
Who is going to buy my policy?
Life insurance policies are typically purchased by licensed viatical settlement provider companies who are interested in buying a variety of assets to balance their overall investment portfolios. Most provider companies work with large institutional investors such as banks and pension funds.
Will I have to pay any premiums after my policy is sold?
No. Once the policy is sold, you will have no future premium obligations whatsoever.
Should I sell my policy or borrow against it?
Depending on your individual situation, a life insurance loan may work better for you than a viatical settlement. Typically, this decision will depend on whether you have a smaller immediate cash need and/or desire to preserve some of the policy’s benefit to pass on to your beneficiaries. When you contact us, we will help you decide which option is best for you and your family.
Will my privacy be protected?
How am I protected financially?
There are no out of pocket costs when you work with us and you have no obligation to sell your policy or to accept any offer. In most states, a third party escrow company is used to disburse the funds.
Am I allowed to change my mind?
In most states you have 15 days (in some states up to 30 days) after the receipt of the proceeds to change your mind.
Do you still have questions?
Visit our Frequently Asked Questions page for a comprehensive list of questions and answers about viatical settlements and life insurance loans. Or, feel free to contact us anytime for a free policy review and to learn more about the life insurance loan or viatical settlement process.