How to Fund Cancer Treatment
Every day, thousands of people just like you, are asking themselves:
“How am I going to pay for cancer treatments?”
If you've been diagnosed and decided to pursue traditional/alternative treatment, most health insurance companies cover a limited portion of the cost for treatments, forcing individuals to pay exorbitant out-of-pocket costs.
There is an option available to help individuals so these financial responsibilities are not overwhelming.
Consider a Viatical Settlement
This somewhat unknown financial service is designed specifically for individuals who have been diagnosed with cancer or a chronic disease or health condition.
A Viatical Settlement involves the sale of your Life Insurance policy to a third-party institution for immediate cash. While the amount offered for a policy will vary depending on the insured’s health condition and the provisions set forth in the Life Insurance policy; individuals may receive up to 70% of the face value of their policy.
All types of Life Insurance policies are considered: Whole Life, Term Life, Group Term, FEGLI, Universal and Variable Life.
How To Fund Cancer Treatment With a Viatical Settlement
While most people apply the proceeds from a Viatical Settlement to fund their cancer treatment, the proceeds may be used for a multitude of personal reasons. Perhaps you wish to spend quality time with family, to supplement income, or to plan future financial matters.
In some instances, the proceeds from the sale of a Life Insurance policy are tax-free*.
The Right Approach for You
Is a Viatical Settlement the right approach for you?
A Viatical Settlement option should be explored, especially if it is needed to fund the high cost of cancer treatment.
*HIPAA Act, 1996