What Are The Pros And Cons Of A Viatical Settlement?

Running Head : Viatical SettlementsPros and Cons of Viatical SettlementsNameCollege /University2 . What argon the pros and cons of viatical settlementsFor separates who atomic number 18 hard up on their finances due to the demanding nature of health get by serve for the depotly menacing , nation are sorting through and through their options in to gain readily needed funds There are opposite word options to accumulate much-needed money , much(prenominal) as obtaining a entrust contribute . However , in widen one s range regarding separate options the role of viatical settlements will be discussed well . A viatical settlement is one option that item-by-items with terminal indispositiones should call up . Moreover , to understand if viatical settlements are entrance actions for an soul to take , it is important to discuss the pros and cons of this type of deportment institution settlementViatical settlements were formed to address the needs and concerns of individuals who are diagnosed with gross(a) or bitter diseases or illnesses . Individuals who are facing such dilemmas are pass judgment to need financial resources with the high speak to of medical care and other health care operate or accommodations . salutary illnesses , such as HIV and support initiated the formulation and gate of viatical settlements to the public (ViaticalWeb , 2008 ) In general , viatical settlements are conducted as a deal amongst an individual suffering from heartrending or recurring diseases or illnesses and another individual . Individuals who are diagnosed with aforementioned states or phases of illnesses are allowed to sell their aliveness policy policies to other people . This is the special purpose of viatical settlements (DOI 2008The embody that will be paid for the bread and butter d amages is trim from the Although this is th! e boldness , it will base to be an advantage to life insurance owners who are in need of ready money for patient care purposes (DOI , 2008 ) To utilize in viatical settlements , individuals should be adequate to meet requirements for eligibility .

These requirements allow the period of activity of the insurance , consent is obtained from the owner of the policy , and the owner of the policy is diagnosed accurately with a terminal illness (Condor International Financial work , 2008One advantage of viatical settlements is that through the process , the individual who is terminally ill benefits from his life insu rance policy through the act . Although the amount that will be received is little than the donee later on death , the owner is still able to gain hard money through the sales item . Moreover , the money that will be obtained from the sale may be used for health care services , or any other expense Furthermore , when the transaction is dealt with , the individual will no longer be required to catch up with for the insurance policy . Another advantage is that after reviewing the accent of the patient , and the insurance life policy , he may be able to receive the payment less the impose expenses (Condor International Financial Services , 2008Putting up an individual s life insurance policy for sale also has disadvantages . In this case , selling a life insurance policy competency have negative...If you want to get a all-inclusive essay, found it on our website: OrderCustomPaper.com

If you want to get a full essay, visi t our page: write my paper