VIATICAL & LIFE SETTLEMENTS CONSUMER INFO

for Prudent Sellers and Investors

We do not buy
or sell
viatical or life settlement contracts

 

 

 

 

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    Quick Tips for Viators

bulletAre you holding back from medical treatment? Because you think this will give you a larger Viatical Settlement? Don't. It won't, and you may impair your health.

Viatical providers take into account Investigational New Drugs (INDs) when they price policies. Even if you never took any and don't plan to, they expect viators will try anything that gives hope ... and they price accordingly.

bulletWas your policy resold by the viatical company? Unless the contract you signed obligates you to all future investors, you have no obligation to these unknown  entities. This is like selling a car: If you sell the car to B and B resells it to C, you have no obligation to C.
bulletBe sure to check with your insurer to find out if your policy includes Accelerated Death Benefits. If so, and if you qualify, you will get much more money  -- and it will be paid faster. This applies to some group term life as well as individual policies.
 
bulletIf you check with the insurer and speak to a customer service representative who appears ignorant, ask for someone who is a decision maker (i.e., claims, a vice president, etc.). Some companies will provide accelerated death benefits (also known as living benefits), if they know your only alternative is to sell to a settlement company. These companies prefer to help you, rather than add to the profits of settlement companies.
bulletDon't apply to only one viatical company -- even if the referral was made by your doctor, lawyer, insurance agent, social worker, or credit union. If you ignore this advice, you're likely to get thousands of dollars less. 
 
bulletDeal only with licensed companies but be careful. Some licensed companies are disguises for companies that cannot get approved for licenses. And some states give licenses to any company that pays their fee -- with no investigation, no concern for charges brought against them by other states, no concern for complaints filed by other sellers. To the best of our knowledge, Virginia is the only state that fought a settlement company that underpaid a viator.

 

© 1998 - 2011 Bialkin Books, publisher of viatical books banned in Texas and Florida
(at the behest of companies that consider informed consumers dangerous to their bottom line):
Viatical Litigation: Principles & Practice - the first legal text on the industry
Viatical & Life Settlements: An Investor's Guide
Click on Title to Order
For Consultation  1-888-798-BOOK (1-888-798-2665)