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frequently asked questions regarding
viatical settlements

    *    How do I know if I qualify?
                 - face value amount of insurance policy is $10,000 or more
                 - policy has been in effect for at least two and is beyond
                   contestability period
                 - your life expectancy is four years or less

    *    After I sell my policy, am I responsible for future premium payments?
                 - No, the person/company buying the policy becomes responsible
                   for premium payments

    *    If I accept a viatical settlement and then change my mind, what can I do?
                 - Most companies offer a 15 day period in which you can
                   rescind the sale of your policy

    *    What can the money be used for?
                 - higher quality of life
                 - maintain high quality of health care
                 - pay off personal debts
                 - take a vacation
                 - buy new car/home
                 - take care of financial arrangements

*        Questions to keep in mind when considering viatical settlement
                 - do I still need life insurance?
                 - if I sell my police, how is it decided how much money I get?
                 - is my police an employer/group policy - if so, do I need their
                   permission to sell it?
                 - if I sell, who will be the legal owner of the policy?
                 - do I need the advice of a tax/estate planning advisor before

*        How do the viatical settlement process work (general overview)?
                - provider, broker, etc. will have you complete an application and
                  medical release form so they can gather information from your
                  insurance company and doctors
                - assuming you qualify based on the information received, the
                  provider will make an offer for your policy - the amount you are
                  offered will be based on facts such as your life expectancy,
                  your insurance premium payments, rating of your insurance
                  company and policy provisions
                - if you accept the offer, you will be asked to sign a viatical settlement contract