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A life settlement is defined as the sale of an existing life insurance policy for more than its cash surrender value, but less than its net death benefit. Once the sale is complete ownership of the policy is transferred to a third party intermediary who is responsible for all future premium payments and will acquire the death benefit at the death of the insured.

A viatical settlement is essentially the same as a life settlement, except the insured is typically suffering from a chronic or terminal illness. Viatical settlements are often tax-free, making them an excellent option for those facing major medical bills or traveling out of the country to pursue medical care.

A life settlement is not a loan. It is a one time transfer of money from an institutional investment fund to the insured in exchange for policy ownership. Once the cash is transferred, it belongs entirely to the policyholder. You will never be expected to pay back any portion of your policy.

If you qualify, a life or viatical settlement can be a source of much-needed funds for everything ranging from financing post-retirement living expenses to paying for medical bills when suffering from a serious illness.

For more information on life settlements, please visit our comprehensive Learning Center or Contact Us and one of our life settlement professionals will be more than happy to assist you over the phone or via e-mail.

Founded in 2004, Abacus Life Settlements is licensed direct life settlement provider and buyer headquartered in Orlando, Florida. Abacus is capitalized by several institutional funds who purchase life insurance policies in the secondary market for life insurance regularly. Abacus responds to the needs of professional financial advisors and policy sellers seeking to optimize the value of unwanted or no longer needed life insurance policies. Policy sellers and life settlement brokers/agents know that they can count on Abacus to deliver the fair market value of each policy we purchase.

What truly makes Abacus stand out in an industry that continues to evolve and mature is the company’s longevity, resourcefulness, and enterprising approach to meeting the demands of the marketplace. The executives at Abacus are often looked to as industry thought-leaders on the subjects of underwriting, pricing, agent relationships, and general life settlement innovations. The experienced team at Abacus works to form mutually beneficial relationships with clients, agents, and investors based on trust, competence, and transparency.