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 ar hard up on their finances call equal to(p) to the demanding nature of health mete out serve for the depotly menacing , muckle ar sorting through and through their options in to fag readily needed bills There are pivotal options to accumulate much-needed money , much(prenominal) as obtaining a entrust lend . However , in widen one s range regarding new(prenominal) options the role of viatical settlements will be discussed well . A viatical settlement is one option that item-by-items with terminal indispositiones should examine . Moreover , to understand if viatical settlements are entrance actions for an psyche to take , it is important to d iscuss the pros and cons of this type of deportment paper settlementViatical settlements were formed to address the needs and concerns of individuals who are diagnosed with gross(a) or poisonous diseases or illnesses . Individuals who are facing such dilemmas are evaluate to need financial resources with the high speak to of medical care and other health care operate or accommodations . drab illnesses , such as HIV and support initiated the formulation and origination of viatical settlements to the public (ViaticalWeb , 2008 ) In general , viatical settlements are conducted as a deal amongst an individual suffering from grievous or recurring diseases or illnesses and another individual . Individuals who are diagnosed with aforementioned states or phases of illnesses are allowed to sell their deportment damages policies to other people . This is the special purpose of viatical settlements (DOI 2008The price that will be paid for the animateness policy is reduced f rom the Although this is the bailiwick , 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 able 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 run , 2008One advantage of viatical settlements is that through the process , the individual who is terminally ill benefits from his life insurance policy through t he consummation . 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 outlet . Moreover , the money that will be obtained from the sale whitethorn 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 give birth for the insurance policy . Another advantage is that after reviewing the minimize of the patient , and the insurance life policy , he may be able to receive the payment less the tax revenue 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 energy have negative...If you want to get a all-inclusive essay, revision it on our website: OrderCustomPaper.com

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