What Illnesses Qualify For a Viatical Settlement?

While the idea of receiving a cash payout for your unneeded or unwanted life insurance policy can be appealing to many, not everyone is always eligible for the benefits of such a sale.  Since a viatical settlement is the process of where a person with a life-threatening illness can turn their existing policy into cash by transferring and selling the rights to another party, the question arises: what qualifies as a life-threatening illness?  While cases may vary, there are some basic illnesses that are generally considered.  Take a look below.

• Different forms of Cancer

Cancer is almost always considered a very serious illness. Whether you are diagnosed with breast cancer, liver cancer, lymphoma or prostate cancer, the treatment for these illnesses can cost heavily at times.  Facing the seemingly impossible obstacle of both being able to work and take time in order to treat the illness, those with cancer do have the option of seeking a viatical settlement.  Financial help can ease one's mind, help to eliminate stress and get you the medicine you need to fight the disease 

• HIV/AIDS

The viatical settlement movement first started in the 1980's during the AIDS epidemic.  The industry has branched out to offer buyouts for other severe illnesses as well, but HIV/AIDS is still a qualifying illness. AIDS is now the 5^th leading cause of death amongst individuals in the USA from ages 25 to 44.  The costs of medications to treat it range anywhere from $60 to as high as $15,000; a viatical settlement can be the key to getting the treatment that you need.

• Lou Gehrig’s Disease (ALS)

Amyotrophic lateral sclerosis is often called Lou Gehrig’s Disease is aggressive neurodegenerative disease that affects nerve cells in the spinal cord and brain. Those who suffer from the disease know there is no known cure or effective treatment besides medication that slows the progression which is costly. When considering the option for a viatical settlement, you could help fund research for more treatments or simply to reduce the stress of buying the medication you need.

Contact Asset Funding Corporation at (800)542-9513 to discuss the possibilities of selling your life insurance policy, and to answer any questions you may have.