Running Head : Viatical SettlementsPros and Cons of Viatical SettlementsNameCollege /University2 . What argon the pros and cons of viatical settlementsFor separates who atomic number 18 hard up on their finances due to the demanding nature of health trouble serve for the depotly menacing , lot are sorting through and through their options in to setting readily needed property There are reverse options to accumulate much-needed money , much(prenominal) as obtaining a entrust impart . However , in widen one s range regarding otherwise options the role of viatical settlements will be discussed well . A viatical settlement is one option that separates with terminal indispositiones should press . Moreover , to understand if viatical settlements are entrance actions for an undivided to take , it is important to di scuss the pros and cons of this type of deportment reputation settlementViatical settlements were formed to address the needs and concerns of individuals who are diagnosed with gross(a) or injurious diseases or illnesses . Individuals who are facing such dilemmas are evaluate to need financial resources with the high speak to of medical care and other health care operate or accommodations . unsafe illnesses , such as HIV and support initiated the formulation and foundation of viatical settlements to the public (ViaticalWeb , 2008 ) In general , viatical settlements are conducted as a deal amongst an individual suffering from grave or recurring diseases or illnesses and another individual . Individuals who are diagnosed with aforementioned states or phases of illnesses are allowed to sell their brio policy policies to other people . This is the special purpose of viatical settlements (DOI 2008The woo that will be paid for the conduct redress is decrease from the Although this is the cuticle , it will bas! e to be an advantage to life insurance owners who are in need of ready money for patient care purposes (DOI , 2008 ) To utilize in viatical settlements , individuals should be up to(p) to meet requirements for eligibility .
These requirements allow the period of activity of the insurance , consent is obtained from the owner of the policy , and the owner of the policy is diagnosed accurately with a terminal illness (Condor International Financial go , 2008One advantage of viatical settlements is that through the process , the individual who is terminally ill benefits from his life insurance policy through the a ction . Although the amount that will be received is little than the beneficiary later on death , the owner is still able to gain hard money through the sales fact . Moreover , the money that will be obtained from the sale whitethorn be used for health care services , or any other expense Furthermore , when the transaction is dealt with , the individual will no longer be required to have a bun in the oven for the insurance policy . Another advantage is that after reviewing the backcloth of the patient , and the insurance life policy , he whitethorn be able to receive the payment less the value expenses (Condor International Financial Services , 2008Putting up an individual s life insurance policy for sale also has disadvantages . In this case , selling a life insurance policy top executive have negative...If you want to get a all-inclusive essay, regulate it on our website:
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