The IRS does not generally tax viatic regulations, but each situation is unique. American Life Fund is committed to helping clients secure the necessary funds as soon as possible. Policy owners can work directly with the U.S. Life Fund without the services of a viatic comparator broker with their insurance company. Call us at 877-297-4592 to speak to a dedicated and caring advisor. Whether a particular viatic investment is a guarantee depends on whether the investment is a passive investment in which the investor expects profits derived primarily from the efforts of a party or part other than the investor. For example, someone with a $100,000 directive could receive a payment of $70,000 under that directive. Billing amounts vary and depend on the stage of illness and the amount of the policy. People who do not face a health crisis may also choose to sell their life insurance to get cash, which is commonly referred to as the life count.
A life count is different from a viatic billing by the lengthening of the life expectancy of the insured. In a viatic count, the life expectancy of the insured is usually two years or less. There are two types of settlements: viatic villages and villages for the elderly. Within a few days, you will receive a large lump sum for your policy, as the Viatical Settlement Provider becomes the new owner of the policy. Note: Colonies of the elderly are usually owned by people who are in their golden age or 70 years and older. According to the National Association of Insurance Commissioners, anyone with a chronic illness, defined as a condition that affects daily life, and an existing policy with an insurance company may be eligible for a technical life count. A whole policy, conceptual, universal or group is acceptable for sale. Any policyholder who wishes to make his policy the subject of a viatic transaction contract should deal with viatic companies such as the Fund for American Life and the options available.
After completing the ADB process, an insurance policyholder still controls the remaining part of the directive after payment. You can sell this remaining portion of the policy to a viatical settlement provider. First, it is important to provide a definition of viatic billing and to define some key concepts and to discuss the two types of viatic implantations. Viatic settlements are not scams. You are a very convenient way to access the value of your life insurance to get money when you need it most.