Information Zone

Once upon a time a life insurance policy has limited value for the insured. For limited value I mean he had only two options if it no longer needed the policy. He could let lapse, or cash it in. Either way, it has lost money.

With an industry that has two names, Life Settlements or Viatical Settlements, a third option has been grafted onto the option of life insurance tree. For purposes of this article, Life Settlements will be the expression of choice.

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Here is a general guide on the sale of a structure of regulation:

1) First you should determine your current and future cash requirements and financial condition. It is advisable to consult a financial adviser or an attorney. Remember, you can sell all or only part of your future payments in cash.

2) Contact your supplier payment, usually an insurance company, to determine the amount, the number of remaining payments, and terms of your settlement. It’s a good idea to get all the information from your provider contract. You will need this information to provide the prospective buyer.

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