Viatical Settlements, Life Settlements, Accelerated Death Benefit Riders – How Did It All Begin?
Viatical Settlements, Life Settlements, Accelerated Death Benefit Riders – how did it all begin?
The Life Insurance Settlement Association (LISA) has helped sponsor a new documentary film by The New Yorker magazine that explores the beginnings of the life settlement industry through viatical settlements for HIV/AIDS patients.
Cashing Out is a short, historical-style documentary that explores the origins of “viatical settlements” and what has now become the life settlement industry. The film shares perspectives on how marginalized communities and those living with HIV/AIDS sold their policies for cash, as well as their intimate and complex stories.
Although sometimes criticized as being ghoulish, the life settlement industry is humanized by the stories shared in the film. For many HIV/AIDs patients, a viatical settlement made a huge difference in their very shortened lives, especially when the disease was first identified and before treatments were discovered.
The film can be seen on YouTube:
https://www.youtube.com/watch?v=MhrmiGjHAFE
Although today, the life settlement industry does not focus on people with terminal illnesses, the proceeds of a life settlement can still make a meaningful difference in the quality of a person’s life. This is especially true for people with chronic illnesses requiring custodial care and incurring large medical expenses.
If you have a client with a policy that is about to be lapsed or surrendered, or is in financial distress, you owe it to the policyowner to explore the option of a life settlement. Remember, it can’t hurt to try – it can only hurt not to!
Partner with the Experts
Don’t let your clients walk away from money that is rightfully theirs; contact Life Insurance Settlements Inc. to review your book of business today. We guide you through the valuation process to ensure you and your client maximize the hidden potential of their expiring term policies.
