January 2008
Beginner to intermediate
224 pages
3h 16m
English
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Chapter 55. Unusual investment opportunities
Viatical companies
A viatical settlement company buys life insurance policies from policyholders while the policyholder is still living. The company then makes itself the beneficiary of the policy and continues to pay the premiums. The viatical settlement company makes a lump-sum payment to the original policyholder, who can use the money for long-term care needs, medical needs, or whatever he wants.
The development of the viatical settlement industry was spurred on by the AIDS epidemic, when sick people sold their policies to investors for money to use while they were still alive. Viatical settlements offer a legitimate source of funds for someone with a hefty life insurance policy in force, but with ...
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