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Frequently Asked Questions
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A viatical settlement is a financial transaction where a terminally or chronically ill individual sells their life insurance policy for an immediate cash payment.
Anyone can sell a life insurance policy as a viatical settlement as long as you have a terminal or chronic illness, and have a life insurance policy of $50,000 or more.
Cancer Care Financial provides compassionate and practical financial assistance to individuals and families facing cancer. Our personalized viatical settlements empower policyholders to access funds from their life insurance policies to cover medical expenses, caregiving costs, and other financial obligations during their cancer journey. We aim to alleviate financial uncertainty and offer peace of mind during challenging times.
Most individuals can expect between 30% to 80% of the policy death benefit paid in cash now. Many factors will determine a viatical settlement offer including health, type of policy, and policy amount.
Viatical process takes between 4-10 weeks start to finish. Factors that affect the timeline include gathering information such as policy details and medical records, as well as offer negotiations and contract closing speed.
Selling your life insurance policy through a viatical settlement can provide immediate access to a substantial cash sum.This lump sum can be used to cover the high costs associated with cancer treatment, including medical bills, medications,and living expenses.
In most cases, the money you receive from a viatical settlement is tax-free. This means you can use the full amount to cover medical expenses, living costs, or other financial obligations without having to worry about reducing your refund or owing additional taxes. Nevertheless, tax laws can be complex, and it's essential to seek personalized tax advice for your specific situation.
A viatical settlement is a sale, not a loan. You receive a lump sum payment in exchange for your life insurance policy.There's no obligation to repay the funds.
After selling your life insurance policy through a viatical settlement, you'll receive the agreed-upon cash payment. The viatical settlement company becomes the new owner of the policy and takes responsibility for future premium payments.
A viatical settlement is specifically designed for individuals with an existing life insurance policy. It allows you to convert the policy's death benefit into a lump sum cash payment. If you do not own a life insurance policy you are unable to qualify for cancer financial assistance with Cancer Care Financial.
If you're battling breast cancer and facing financial challenges, a viatical settlement might be an option. Cancer Care Financial can guide you through the process and help you understand your options.
Individuals diagnosed with colon cancer may qualify for a viatical settlement. At Cancer Care Financial, we assist patients in exploring this option to alleviate the financial burden associated with their diagnosis.
A liver cancer diagnosis can present significant financial challenges. At Cancer Care Financial, we understand this and offer viatical settlements as a potential solution to help cover medical expenses and other costs.
A lung cancer diagnosis can be overwhelming, both physically and financially. At Cancer Care Financial, we offer viatical settlements as a potential solution to help alleviate the financial burden associated with your treatment.
Facing a brain cancer diagnosis can be incredibly stressful, and financial concerns can add to the burden. Viatical settlements might provide the financial relief you need to focus on your health and treatment. Cancer Care Financial can guide you through the process.
Facing a prostate cancer diagnosis can be overwhelming. Viatical settlements might provide the financial relief you need to focus on your health and well-being. Cancer Care Financial can guide you through the process.
Dealing with a cervical cancer diagnosis can be financially draining. Viatical settlements offer a potential lifeline by converting your life insurance policy into immediate cash. Cancer Care Financial can help you explore this option.
No, all types of cancer in various stages may qualify for a viatical settlement. The more advanced the cancer may result in a higher the purchase offer.
Yes, you can use your viatical settlement proceeds for cancer care expenses. The cash you receive is yours to use as you need, including medical bills, treatments, and living costs.
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The Viatical Settlement Process
Selling a life insurance policy is fast and easy.
Cancer Care Financial is your trusted advisor to guide you to the best results so you can focus on stress free healing.
