Both are derived from the same make of car
but are considered different model types…

By now, I think you know what a Life Insurance Settlement is. However, do you know what a Viatical Settlement is?

I’ll try to simplify. A Life Insurance Settlement evolved from the success of the Viatical Settlement. Back in the late 1980’s, the insurance industry decided to offer an opportunity to help HIV and AIDS patients to sell their life insurance policy to receive cash from the policy’s death benefit to help them being able to afford costly treatments needed to help them sustain life as long as possible. It did wonders and was a blessing for so many.
Depending upon the state Insurance regulations, to qualify for a Viatical Settlement the policyholder, would have to provide a letter from his physician that his life expectancy was estimated to be less than two or three years and our actuaries will also be required to examine all medical records. Also, the policy has to be two years since the date it was issued. The amount of the offer could be as high as 75% of the face amount of the policy. Viatical settlements are available for the terminally ill regardless of illness type, age or size of policy. The Viatical Settlement is meant for the most serious health care needs and for worst case life expectancy situations.