With More Than 30 Years of Experience
Serving Clients Throughout the USA
Individual Benefits

Life Insurance Benefits for the Living Insured

How Viatical Settlements Work

Viaticum, Then and Now​

The word “viatical” comes from the Latin word “viaticum,” or “provision for the journey.” In Roman times, soldiers would receive currency or supplies for their final journey, often before a battle. Over two millennia later, a relatively new industry has adopted this ancient concept. Revived and revised for today, viatical settlements give terminally-ill people financial assistance for the final part of their journey.
Anyone with a life-threatening illness, such as cancer, heart disease, Alzheimer’s, or multiple sclerosis, can sell an eligible life insurance policy for cash at Individual Benefits. The seller must be diagnosed with a terminal illness and must have the option to change the right of ownership or assign their life insurance coverage to a third party like our firm. In most cases, the life insurance coverage cannot be sold during suicide exclusion clauses or contestability periods, usually during the first two years of coverage.
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The Process

If you are a prospective seller, fill out our short application and return it via fax, email, or request a prepaid return envelope from us.
A counselor will call you to answer all your questions and address your concerns as soon as we’ve received your application. You’ll get honest financial advice for your situation, and we promise absolute confidentiality.
Upon receipt of your application, a staff from Individual Benefits will request your medical records. We cover all costs and do all the work. Your insurance company will provide the necessary details on your coverage. Then, we evaluate your policy provisions terms and have an independent physician review your medical records. The independent physician may consult your doctor with your permission since he 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. At that time, we will give you the best offer. If you accept, your funds will be placed in an escrow account while you receive a contract via overnight mail.
Once your insurance company has assigned your policy, changed the beneficiary designation, and sent us an acknowledgment of both, we will send you the money within 24 to 48 hours.