Deposit Table Of Contents Settlement For Free

A viatical settlement occurs when the policy owner, referred to as the viator, sells the right to become the policy beneficiary to an investor, called the settlement provider, for an immediate cash payout.

What Defines a Viatical Settlement Broker? A person who negotiates viatical settlements on behalf of a life Insurance policy holder. Viatical Settlement Brokers (?VSB?) work with several financial institutions that buy insurance policies, to find the best prices for their clients.

Viatical settlements enable owners of life insurance policies to sell their policies to investors. Investors buy the full policy or a portion of it at a cost that is less than the policy's death benefit. The investor's rate of return depends upon when the seller dies.

A viatical settlement contract or disclosure statement form shall be deemed approved by the Commissioner if not disapproved within 60 days from submission.

What Defines a Viatical Settlement Broker? A person who negotiates viatical settlements on behalf of a life Insurance policy holder. Viatical Settlement Brokers (?VSB?) work with several financial institutions that buy insurance policies, to find the best prices for their clients.

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

The two main categories of insurance policy sales are life settlements and viatical settlements. A life settlement differs from a viatical settlement because the insured in a life settlement is usually healthy, while a viatical settlement pertains to a sale by an insured with a terminal illness.