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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
Canadian Dollar Rises for Ninth Straight Day on Growth Outlook
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<a href="http://www.businessweek.com/news/2010-03-10/canada-dollar-trades-at-almost-two-month-high-as-oil-nears-82.html" style="font-size:1.2em">Canadian Dollar Rises for Ninth Straight Day on Growth Outlook</a>
<br> <span style="color:#888888;">BusinessWeek</span> - <span style="white-space:nowrap">10 hours ago </span>
<div style="width:80%;">By Allison Bennett and Chris Fournier March 10 (Bloomberg) -- The Canadian dollar rose for a ninth day against its US counterpart, the longest streak in five and a half years, as investors bet the ...</div>
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Canadian Dollar Declines Against Yen
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<a href="http://www.rttnews.com/ArticleView.aspx?Id=1235627&SMap=1" style="font-size:1.2em">Canadian Dollar Declines Against Yen</a>
<br> <span style="color:#888888;">RTT News</span> - <span style="white-space:nowrap">16 hours ago </span>
<div style="width:80%;">(RTTNews) - The Canadian dollar edged lower against the Japanese yen on Wednesday's early trading, mainly due to across the board rallying of the latter. The loonie-yen pair declined to 87.46 ...</div>
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Neutral on the Yen, but turning Bullish on the Aussie $
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<a href="http://www.forexhound.com/article/Fundamentals/Daily_Reports/Neutral_on_the_Yen_but_turning_Bullish_on_the_Aussie/190110" style="font-size:1.2em">Neutral on the Yen, but turning Bullish on the Aussie $</a>
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<div style="width:80%;">CURRENCIES: 03/09/10 Higher closes yesterday for the Canadian and Aussie Dollar along with the Japanese Yen, Euro Fx and Swiss Franc while lower for the British Pound and dollar index. The euro ...</div>
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Don't Forget the Canadian Dollar
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<a href="http://www.fxstreet.com/technical/market-view/the-chartist-analysis/2010-03-09.html" style="font-size:1.2em">Don't Forget the Canadian Dollar</a>
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<div style="width:80%;">by Daniel Bruno Get top forecasts for any FX pair, metals, stocks and bonds. Whatever you trade, FXboss has the information you need to make your trading profitable. The Canadian Dollar has a ...</div>
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| EXCHANGE RATE
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<a href="http://www.dailynews.lk/2010/03/11/ExchangeRate.asp" style="font-size:1.2em">| EXCHANGE RATE</a>
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<div style="width:80%;">Exchange Rates on 10.03.2010 The average rates of the following currencies quoted by commercial banks in Colombo for Telegraphic Transfers (TT) at 9.30 am are as follows: Currency Buying Rate ...</div>
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Forex: USD/CAD hovering right above 6-week low at 1.0260
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.fxstreet.com/news/forex-news/article.aspx?StoryId=8f499987-f6b0-4c6a-babd-e975ccb2fd61" style="font-size:1.2em">Forex: USD/CAD hovering right above 6-week low at 1.0260</a>
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<div style="width:80%;">FXstreet.com (Barcelona) - Dollar decline from Feb 25 high at 1.0680 has lost steam, and the pair has remained consolidating during the day so far, trapped between 6-week low at 1.0260 and 1.0290 ...</div>
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Canadian Dollar Advances Against Most Majors
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<a href="http://www.rttnews.com/ArticleView.aspx?Id=1234872&SMap=1" style="font-size:1.2em">Canadian Dollar Advances Against Most Majors</a>
<br> <span style="color:#888888;">RTT News</span> - <span style="white-space:nowrap">Mar 8, 2010 </span>
<div style="width:80%;">(RTTNews) - The Canadian dollar traded higher against most of its major counterparts during New York afternoon trading on Tuesday. At 12:40 pm ET, the loonie climbed to a new multi-year high of 1 ...</div>
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Canadian Dollar Soars To 2-week High Against Yen
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<a href="http://www.rttnews.com/ArticleView.aspx?Id=1232312&SMap=1" style="font-size:1.2em">Canadian Dollar Soars To 2-week High Against Yen</a>
<br> <span style="color:#888888;">RTT News</span> - <span style="white-space:nowrap">Mar 8, 2010 </span>
<div style="width:80%;">(RTTNews) - The Canadian dollar climbed to a 2-week high of 88.33 against the Japanese yen in early Asian deals on Monday, mainly due to across the board weakening of the latter and this may be ...</div>
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Canadian Dollar Eyes Parity with the Dollar as Labor Data Approaches
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<a href="http://www.dailyfx.com/forex/fundamental/forecast/weekly/cad/2010-03-06-0142-Canadian_Dollar_Eyes_Parity_with.html" style="font-size:1.2em">Canadian Dollar Eyes Parity with the Dollar as Labor Data Approaches</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">Mar 6, 2010 </span>
<div style="width:80%;">The Canadian dollar was extraordinary strength across the board this past week with the help of a few well placed indicators. The release of the fourth quarter GDP figures and the Bank of Canada's ...</div>
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Forex: Loonie follows broad gain, poor PMI limits
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<a href="http://www.fxstreet.com/news/forex-news/article.aspx?StoryId=8eb8877c-fe0d-43ae-b3fa-9602bb999880" style="font-size:1.2em">Forex: Loonie follows broad gain, poor PMI limits</a>
<br> <span style="color:#888888;">FXstreet.com The Forex Market</span> - <span style="white-space:nowrap">Mar 5, 2010 </span>
<div style="width:80%;">FXstreet.com (London) - As market sentiment moves towards a mood of positivity one would expect the whole fleet of riskier asset classes to take gains. However Canadian Dollar, or the 'Loonie' in ...</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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