Seneca said that the best ideas are common
property. What makes them different is how they're put into
practice. This is how Individual Benefits handles the viatical
Then and Now
The word "viatical" comes from the
Latin word "viaticum," or "provision for the journey."
With a viaticum, the Roman soldier was given supplies for his journey
into battle, possibly the final journey of his life.
Over two millenia later, a relatively new industry
has adopted this ancient concept, revived and revised, to give people
faced with life-threatening illnesses some remarkable prospects.
Anyone with a life-threatening illness, such
as cancer, AIDS, heart disease, Alzheimer's, or multiple sclerosis,
can sell an eligible life insurance policy for cash. To qualify,
the seller must be diagnosed with a terminal illness and must have
the option to change the right of ownership or to freely assign
coverage on the policy. In most cases, the coverage can not be subject
to any existing suicide exclusion clauses or contestability periods.*
* A suicide exclusion clause is usually a two-year period, during
which the insurance company will not pay a claim as a result of
the insured's suicide.
If you are a prospective seller (viator) all
you have to do, after you contact Individual Benefits, is fill out
a short application and return it via fax, e-mail, or in a prepaid
return airbill. We'll take it from there, and we won't drag our
As soon as we've received your application, a counselor
will call you right away to answer all your questions and address
all your concerns. You'll get the best financial advice for your
situation. And we promise absolute confidentiality.
On receipt of your application, we'll request your
medical records immediately. We pay the costs and do all the work.
Your insurance company is contacted for the details on your coverage.
Then we evaluate your policy terms and have an independent physician
review your medical records. With your permission, the independent
physician will consult your doctor, who is most familiar with your
condition. In our experience, this consultation is frequently the
key to offering the maximum for your policy.
As soon as possible, probably about three working
days after we receive all the medical information, we will have
solicited several offers, and at that time will give you the best
offer. If you accept, your funds will be placed into an independent
account immediately, and a contract is overnighted to you.
Once the insurance company has assigned your policy,
changed the beneficiary designation, and sent us an acknowledgment
of both, you receive your money within 24 to 48 hours.