Financial Options for Cancer Patients

In a society where cancer is the number one medical issue, having enough financial means to treat it can often be a problem.  It is a repetitive cycle, meaning if you are sick and need treatment, one generally has to take time off of work; but when time is taken off of work, there is a lack of financial means to deal with the condition.  Fortunately there is an answer called a viatical settlement.

A viatical settlement is based on an individual facing a serious illness, whereas they sell their life insurance policy for a cash lump sum through the transferal of ownership.  The final payout is often a percentage of the total face value of the policy.  This makes it much more affordable to treat the illness, especially if there will be plenty of work missed.  The seller is able to access their own life insurance policy and turn it into a cash payout when they need it the most; in this sense, a viatical settlement can be one of the most valuable ways to gain finances during difficult times.

While still a relatively new concept in some regards, the viatical settlement was first introduced in the mid 1980's, when the AIDS epidemic was a very significant issue for millions of individuals.  With nowhere else to turn to, those who suffered from AIDS finally had the ability to gain some form of financial means through these viatical settlements.  Fast-forward to today, where these settlements have expanded to include an expanded range of serious illnesses.  By selling the life insurance policy for a cash payout, one can gain the means to relieve their financial issues and continue dealing with their medical issues. Financial help for cancer patients is as simple as selling one's life insurance policy; don't wait another second to look into a viatical settlement!