American Viatical Services - Peace of Mind Funding at Death's Door

2007-03-08 10:33:40

( Insurance )



American Viatical Services was established in 1999 for the purpose of engaging in viatical and life settlement transactions, with its main offices located in Georgia.

The word "viatical" comes from the Latin word "viaticum" which means "provision for a journey" and refers to a type of life insurance settlement where the insured person sells his policy for anywhere between 25 to almost 100% of its insured or face amount. He can only do so within the specific condition that he is terminally ill and expects to die within two years. A viatical settlement company buys the policy from him, continues any unpaid premiums and upon his death, collects the full insured amount. American Viatical Services can also resell the same policy to an investor for a higher amount than it paid the seller, thus earning the difference. At the event of the terminally ill person's death, the investor is awarded the insured amount. Viatical settlements can be risky and even costly for the company since there is still a chance that the terminally ill person might live longer than expected, thus American Viatical incurs the cost of additional premiums.

In order to minimize the risks and unexpected costs, American Viatical Services has hired highly competent doctors and insurance analysts to properly evaluate and predict the life expectancy of a terminally ill person.

American Viatical Services also handles life settlements, for insured persons who wish to cash in on their policies but want higher returns. These persons are mostly of senior age and physically healthy but no longer wish to pay any more premiums and just want to get back money for the policy's insured amount by assigning the policy to American Viatical at an estimated price.

If you're terminally ill and have an existing active life policy, selling your policy through a viatical settlements company is one way to get funds to pay for your medical bills and to use as a "parting gift". If you're an investor who is looking for a high yielding investment instrument, buying a policy through a viatical settlements company may be a viable option. In both cases, it is best to consult your lawyer, trusted loved ones or financial advisers before embarking on this type of transaction.


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