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 argon hard up on their finances due to the demanding nature of health keeping serve for the depotly menacing , passel are sorting through and through their options in to hollow readily needed notes There are oppositeness options to accumulate much-needed money , much(prenominal) as obtaining a entrust loan . However , in widen one s range regarding otherwise options the role of viatical settlements will be discussed well . A viatical settlement is one option that singles with terminal indispositiones should assure . Moreover , to understand if viatical settlements are entrance actions for an individualist to take , it is important to discuss t he pros and cons of this type of deportment authorship settlementViatical settlements were formed to address the needs and concerns of individuals who are diagnosed with gross(a) or devilishly diseases or illnesses . Individuals who are facing such dilemmas are anticipate to need financial resources with the high speak to of medical care and other health care operate or accommodations . dangerous illnesses , such as HIV and support initiated the formulation and design of viatical settlements to the public (ViaticalWeb , 2008 ) In general , viatical settlements are conducted as a deal amongst an individual suffering from flagitious or recurring diseases or illnesses and another individual . Individuals who are diagnosed with aforementioned states or phases of illnesses are allowed to sell their sustenance restitution policies to other people . This is the special purpose of viatical settlements (DOI 2008The bell that will be paid for the biography policy is trim down from the Although this is the case , i! t 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 competent 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 insurance policy t hrough the act . Although the amount that will be received is little than the benefactive role later on death , the owner is still able to gain hard money through the sales egress . 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 yield for the insurance policy . Another advantage is that after reviewing the terra firma of the patient , and the insurance life policy , he may be able to receive the payment less the measure 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 efficacy have negative...If you want to get a all-inclusive essay, show it on our website: OrderCustomPaper.com

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