Viatical Settlements Archives | Harbor Life Settlements

Viatical Loans Overview: Definition, Pros/Cons, Alternatives

March 4, 2021 No Comments

A viatical loan is a strategy to pull cash from your life insurance policy after you’ve been diagnosed with a terminal illness. It’s similar to a viatical settlement in three respects. One, viatical loans and viatical settlements are structured around an in-force life insurance policy. Two, you qualify for both a viatical loan and viatical settlement when a qualified medical professional certifies that your lifespan is 24 months or less. And lastly, you can use the proceeds from a viatical loan or viatical settlement to cover your medical expenses and end-of-life care.

What is Cash Surrender Value of Life Insurance?

January 14, 2021 No Comments

The cash surrender value of your life insurance policy is the amount of cash you may withdraw if you surrender your policy to the insurance company. By doing this, you forfeit the right to the death benefit and will no longer have to pay your premiums. This is an alternative to borrowing against your policy, which would keep it in effect and require you to still pay premiums and pay interest on what you borrowed.

How Does Fiduciary Duty Apply in Life Settlements?

January 4, 2021 No Comments

Whether you’re a policyholder, an agent, or an advisor, it’s important to understand the concept of fiduciary duty and how it applies to life settlements. We’ve developed this in-depth guide to help. Read on to learn about fiduciary standards, what constitutes a breach of fiduciary duty, and the complexities of fiduciary duty as they relate to life settlements.

Life Settlement Regulations by State

December 16, 2020 No Comments

If you’re interested in selling your life insurance, it’s important to understand the nuances of the laws and regulations in your state. Some states regulate only viatical settlements, for example, while other states govern both life and viatical settlements. What follows is an overview of life settlement laws and regulations by state, including key regulatory concepts such as mandatory disclosure and waiting periods.

Top Life Settlement Companies of 2023

November 13, 2020 No Comments

Harbor Life Settlements created this list of the top life settlement companies to help you choose the right partner to maximize the sales price of your life insurance.

Complete Guide to Viatical Settlement Investments

November 2, 2020 No Comments

Read on for a deeper explanation of viatical settlements, what types of policies qualify, how viatical settlements differ from life settlements, how to invest in a viatical settlement, and the pros and cons of viatical settlements as investments.

How to Care for a Terminally Ill Family Member

October 7, 2020 No Comments

If someone you love has just received a terminal diagnosis, you are likely in shock and not sure what to do next. One productive place to focus your energy is on learning more about the diagnosis, to prepare for protecting your loved one’s quality of life and ensuring his or her final wishes are honored.

How much does cancer treatment cost?

September 28, 2020 No Comments

Assuming you have no health insurance, you could easily spend six figures chemotherapy, surgical procedures, prescription medications, and doctors visits. Some sources estimate a cancer treatment plan involving chemotherapy can range from $100,000 to $300,000. Specific to breast cancer, a mastectomy or lumpectomy alone — often required before chemotherapy begins — can cost $15,000 to $50,000. In terms of average cancer treatment costs, AARP estimates that patients spend about $150,000 in total. Where your costs fall relative to that average depends on the type of cancer you have and your treatment needs.

What happens if you don’t pay medical bills?

September 16, 2020 No Comments

In 2019, a research study published in the Journal of General Internal Medicine concluded that 137.1 million Americans had experienced a “medical financial hardship” in the previous year. That’s a jaw-dropping number, and one to remember if you’re currently struggling to manage unpaid medical bills — this is not a challenge you face alone. Many others have or are experiencing the stress of high hospital debt, as well as the consequences of not dealing with that debt.

difference between viatical and life settlement

Viatical Settlements vs Life Settlements: Definitions and Differences

January 22, 2020 No Comments

Are you considering selling your life insurance policy, but not quite sure how a viatical settlement differs from a life settlement? The two are often mistakenly used interchangeably, but there are several key differences you should be aware of when trying to determine your eligibility, and what option is best suited for your unique needs.

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