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What is a Viatical Settlement?

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A viatical settlement is a settlement based on money a life insurance policyholder receives for selling their policy to a third party. There are actually companies that specialize in buying active life insurance policies. These companies will buy the policy from the policyholder for percentage of what the policy is worth and then take over the responsibility of the premiums and be named as the beneficiary. The concept behind this process is mainly in order for sick or dying policyholders to be able to sell their life insurance policies in order to receive that money before their death



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