Viatical Settlements

We are often asked about viatical settlements here at QuickQuote. This is a rapidly growing business that is related to the life insurance industry. I say 'related' because viatical settlements are not life insurance products; however, they do have a significant impact upon the life insurance industry. Viatical companies make money by purchasing life insurance policies from people with serious or even terminal illness, or from the elderly. The company typically pays the policy owner a price that is higher than the surrender value of the policy but lower than the death benefit. With this arrangement, a terminally ill or elderly policy owner can make more money by selling to a viatical company than they would be cashing in their policy. Also, the viatical company makes a profit b