Before you even consider selling your life insurance policy, consult with the family members or loved ones who are the beneficiaries. Think about other ways you might benefit from the life insurance policy without affecting future benefits for your loved ones. The following questions should help you start figuring out whether a viatical settlement is even right for you:
These and other issues are addressed in a publication called "Every Question You Need to Ask Before Selling Your Insurance Policy" by National Viator Representatives, a New York-based broker that represents individual policyholders who wish to viaticate. Newly updated for 1999, it addresses a full range of options that people might consider first. (By pointing readers to this resource, OncoLink does not intend to endorse the services of National Viator Representatives.)
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