Talking to your Family about a Viatical Settlement

Broaching the Topic of Selling a Life Insurance Policy for Cash

When tough times hit in the form of a health crisis, people often respond in one of two ways. One option is to avoid talking about the problem and pretend it doesn’t exist. In this case, the only time people choose to discuss the problem is when the subject is absolutely necessary. The other side of the equation is openly talking about the issue and asking others to weigh in and give advice on tackling the problem. Obviously, both these examples are extremes. When faced with adversity, such in the case of a terminal cancer diagnosis, most individuals fall somewhere in between the two extremes. Many reasons exist for why people do or don’t respond a certain way including age, generational differences, upbringing, diagnosis and expectations. All of these variables can and will influence how different people could respond in a similar situation.

Broaching the Topic

It is a rare individual who can openly embrace the discussion of one’s own mortality. Generally these are difficult discussions to begin, and a sensitive touch broaching the subject is critical. In many cases, a conversation of one’s mortality can only take place behind closed doors and often includes only a few people such as a doctor and/or spouse or partner. This is understandable considering the impact of the news for the individual and their loved ones. As difficult as these conversations are, this is an important opportunity for the individual to articulate hopes, fears, and wishes for the future in their own way.
Possible Topic Openings

  • Asking about worries and concerns
  • Inquiring about how to help
  • Offering a listening ear
  • Seeking spiritual help

Exploring Financial Ramifications
If an individual is facing a terminal illness, there will be significant financial considerations even if there is medical insurance. Both traditional and alternative treatments require significant out-of-pocket expenses that can quickly take a toll on personal finances. This then necessitates the exploration of other options. One financial alternative for those with an up-to-date life insurance policy is a viatical settlement. Beacon Life Funds can assist policy holders facing a terminal or chronic illness to obtain a cash settlement on their life insurance policy.

Exploring a Viatical Settlement with Beacon Life Funds:

The process is as follows

  • Call Beacon Life Funds at (855) 542-4552
  • Fill out information and medical forms
  • Request of medical records from healthcare providers by Beacon Life Funds
  • Beacon submits settlement offers to institutionally funded, licensed settlement providers in your state
  • Presentation of settlement offers to you by Beacon
  • Acceptance of funds following policy ownership transfer and designation of a new beneficiary

To learn if a viatical settlement is the right solution for you or a loved one fighting a terminal illness, talk to one of Beacon’s professional case managers. Beacon Life Funds can assist with the sale of a life insurance policy for the exploration of alternative treatments such as medical tourism, the enjoyment of bucket list experiences, and improvements in the financial future of their loved ones.

Disclaimer: The medical information provided is for informational purposes only and should not be considered a substitute for professional medical advice or treatment.

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