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Viatical Settlement - A Win-win Situation For Most!
By Robert Lawrence
Viaticum is the Eucharist given to a person on the verge of death, or to one who is facing a possibility of death. It is no wonder, then, that this Latin word would be the root of the term – Viatical Settlement. Viatical Settlement involves the sale of a life insurance policy to an investor. A Viatical settlement is usually carried out by the terminally ill – those who face penury by the cost of maintenance alone, those who expect to live not longer than two years. That being said, a Viatical settlement is purely a financial transaction. The viator, the one selling the life insurance, sells the policy at a discounted price of the death benefit of the policy and is provided with immediate cash settlement. This usually helps in paying the medical bills of the aged person. The investor is the buyer of the policy. The investor has two options. One is to sell the policy to a third-party, or to stash the policy as a company investment. Viatical settlements are especially attractive to investors and the rates of return, though not guaranteed, are potentially high. As with any kind of deal, risks are always present for both parties. For the Viator, the primary risk is settling for a low price. Of course, compared to the future premiums, the price would be lower, but there is still the danger of the policy being bought at a song.
For the investor, the risks are greater. There is the
Forex: Dollar still under pressure against commodity currencies
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<a href="http://www.fxstreet.com/news/forex-news/article.aspx?StoryId=b5591558-af3e-4081-909d-e51147530009" style="font-size:1.2em">Forex: Dollar still under pressure against commodity currencies</a>
<br> <span style="color:#888888;">FXstreet.com The Forex Market</span> - <span style="white-space:nowrap">4 hours ago </span>
<div style="width:80%;">FXstreet.com (Córdoba) ? Greenback is falling sharply on Friday against currencies tied to commodities weakened by risk aversion. AUD and NZD are approaching to daily highs together with main US ...</div>
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Saskatchewan Roughriders Centennial Canadian Dollar Coin Launched
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<a href="http://www.coinnews.net/2010/09/03/saskatchewan-roughriders-centennial-canadian-dollar-coin-launched/" style="font-size:1.2em">Saskatchewan Roughriders Centennial Canadian Dollar Coin Launched</a>
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Canadian Dollar Tests Short Term Channel
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<a href="http://www.dailyfx.com/forex/technical/elliott_wave/usd-cad/2010/09/03/eliottWaves_usd-jpy_1.html" style="font-size:1.2em">Canadian Dollar Tests Short Term Channel</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">6 hours ago </span>
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Canadian Dollar Spikes Up Sharply Against Major Rivals After US Unemployment Report
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<a href="http://www.rttnews.com/Content/CanadianNews.aspx?Node=B1&Id=1409797" style="font-size:1.2em">Canadian Dollar Spikes Up Sharply Against Major Rivals After US Unemployment Report</a>
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Russia May Soon Add Canadian Dollar to Reserves
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<a href="http://www.smartmoney.com/bn/ON/index.cfm?story=ON-20100903-000389" style="font-size:1.2em">Russia May Soon Add Canadian Dollar to Reserves</a>
<br> <span style="color:#888888;">Smartmoney.com</span> - <span style="white-space:nowrap">12 hours ago </span>
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Canadian Dollar (CAD) Technical Major Currencies (2010-09-03)
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<a href="http://www.ibtimes.com/articles/48998/20100903/canadian-dollar-cad-technical-major-currencies-2010-09-03.htm" style="font-size:1.2em">Canadian Dollar (CAD) Technical Major Currencies (2010-09-03)</a>
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Canadian Dollar Slides Against Majors
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<a href="http://www.rttnews.com/Content/CanadianNews.aspx?Id=1409038&SM=1" style="font-size:1.2em">Canadian Dollar Slides Against Majors</a>
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<div style="width:80%;">(RTTNews) - The Canadian dollar traded lower against major opponents from early morning session's upward trading in New York afternoon deals on Thursday. After edging up to 1.0474 against the US ...</div>
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Canadian Dollar May Appreciate Against USD
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<a href="http://www.dailyfx.com/forex/technical/ssi/usd-cad/2010/09/02/ssi_usd-cad.html" style="font-size:1.2em">Canadian Dollar May Appreciate Against USD</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">Sep 2, 2010 </span>
<div style="width:80%;">USDCAD ? The ratio of long to short positions in the USDCAD stands at 1.17 as nearly 54% of traders are long. Yesterday, the ratio was at 1.28 as 56% of open positions were long. In detail, long ...</div>
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Canadian Dollar Short Term Channels are Points of Reference
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<a href="http://www.dailyfx.com/forex/technical/elliott_wave/usd-cad/2010/09/02/Canadian_Dollar_Short_Term_Channels_are_Points_of_Reference.html" style="font-size:1.2em">Canadian Dollar Short Term Channels are Points of Reference</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">Sep 2, 2010 </span>
<div style="width:80%;">The USDCAD continues to respect its summer range. The June, July, and August highs all occurred within several pips of 10680. There is little to comment on other than the range. Use the channels ...</div>
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Canadian Dollar (CAD) Technical Major Currencies (2010-09-02)
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<a href="http://www.ibtimes.com/articles/48530/20100902/canadian-dollar-cad-technical-major-currencies-2010-09-02.htm" style="font-size:1.2em">Canadian Dollar (CAD) Technical Major Currencies (2010-09-02)</a>
<br> <span style="color:#888888;">International Business Times</span> - <span style="white-space:nowrap">Sep 2, 2010 </span>
<div style="width:80%;">The pair expected its decline yesterday where further correction is projected. Supporting this suggestion is stability below SMA 50 levels along with the negative signs onStochastic forming on the ...</div>
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probability that the investor will not receive the full death benefit should unfortunate circumstances cause the insurance company to go bankrupt. There could also be the ghost of a chance that the Viator may have committed fraud upon signing insurance forms. Or the Viator may have a miraculous recovery and go on to live for another twenty years. Viatical settlement should be thought more than twice before being engaged into. This is not a regulated investment and crooks abound, waiting to pounce on the gullible and the dying. Here are sound advices, both for potential Viators and investors: For Potential Viators: ·Check with your insurer to find out if your policy includes Accelerated Death Benefits. This will get you much more money and you will be paid much faster. ·If you are a member of a Credit Union, seek information about licensed Viatical providers. ·Apply to more than one Viatical settlement company. For Potential Investors: ·Do not use your IRA for Viatical investments. It is prohibited by the Internal Revenue Code. ·To be safe, do not buy a policy that is within the contestability period. That way, if the viator committed fraud on his application and was discovered, you won’t be left with just a return of premiums. Robert co-founded Insurance4USA.com, an insurance quote shopping service - http://www.insurance4usa.com , in 1999. He has been a licensed insurance agent in New York State since 1990.
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