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Life Threatening Illness

What is a Viatical Settlement?

A life settlement for a person with a life-threatening disease is generally called a Viatical Settlement. It can be defined as the sale of an existing life insurance policy to a third party for more than its surrender value but less than its net death benefit.


Are Viatical Settlements Legal?

Yes. A Supreme Court decision in 1911 determined that a life insurance policy is private property and can be sold at the will of the owner.


Why sell a life policy?

  • Pay medical costs
  • Allow for alternative treatment
  • Pay living expenses
  • Relieve financial stress
  • Premium payments have become unaffordable

What are the benefits?

  • Provides cash when needed most
  • Provides freedom allowing sale proceeds to be spent with no restrictions
  • Relieves fiscal burdens
  • Provides for financial dignity as you fight your disease

How Does it Work?

  • Insured completes a short questionnaire and provides authorization to release medical records and policy information.
  • Information including medical records are sent to funding companies who determine policy value and submit bids.
  • Highest bid is forwarded to the insured for acceptance.
  • Once the offer is accepted, closing documents are prepared and insurance carrier notified of changes.
  • Upon verification of the changes, funds are transferred to the seller.

How does it work?

  • Insured completes a short questionnaire and provides authorization to release medical records and policy information.
  • Information including medical records are sent to funding companies who determine policy value and submit bids.
  • Highest bid is forwarded to the insured for acceptance.
  • Once the offer is accepted, closing documents are prepared and insurance carrier notified of changes.
  • Upon verification of the changes, funds are transferred to the seller.

Who qualifies?

Persons with a life threatening disease who own a life insurance policy with face value of $50,000 or more.


How Do I Get Started?

To learn more about viatical settlements and determine if it is right for you, talk to one of our specialists. It will cost you nothing to find out if a life settlement will work for you. There is absolutely no risk or obligation to this program.


For more information, please call toll free at (877) 261-0632

To download Bonded Life Company’s Life Threatening Illness Brochure that contains all the information listed above, please click here.