For many individuals facing a terminal illness, a viatical settlement can be a strong financial solution. Patients and their families can receive immediate funds to pay for medical care or quality of life experiences. We commonly see clients use their funds to tackle their “bucket-lists.” Many insured want to be able to see their family enjoy their life insurance money now, rather than not being present to share in their happiness.
The IRS allows proceeds to be received as a tax-free gain so long as the insured meets certain criteria as stated by a medical professional.
Better Prepare for Expenses
According to Mayo Clinic, an uninsured cancer patient will spend more than $100,000 annually on treatment. Even with health insurance, a patient can spend approximately $25,000 to $30,000 in out of pocket expenses. We help you get the money you pay it off.
Since 2004, the professionals at Abacus have helped thousands of individuals sell their life insurance to help pay for medical and long-term care needs. Rather than surrender your policy back to the carrier for little to no value returned, or go without life-saving medical care; reach out to Abacus today.