This transaction is called a Viatical. Viatical settlements, or a life settlement, allow patients to essentially sell their life insurance policy in order to finance any current expenses that they may have.
Kill Devil Hills, NC. (PRWEB) June 29, 2012
After the Supreme Court has announced that they have decided to uphold the historical US health care reform known as Obamacare, Viatical.org has announced a new guide to helping people navigate the sometimes confusing world of insurance. Obamacare is the President’s landmark bill and legislation for his first term in the White House. The reform bill seeks to provide health insurance coverage to the many American citizens who are currently living without it. Some of the stipulations in the bill include allowing individuals up to the age of 26 to still be included on their parents’ health insurance plan and also another provision that ensures health insurance coverage to those who even have pre-existing medical conditions—an issue that has hampered many Americans from previously qualifying for health insurance before ObamaCare due to the fact that they have existing, known health conditions. The bill has caused much contention in Congress due to the fact that Republican members believe the bill to be unconstitutional. The Supreme Court has announced that Obamacare is not unconstitutional and it has upheld this historic piece of legislation. Even still, Congress has said that they plan to act to replace the law, as reported by Fox News.
While insurance and financial issues continue to bog down many American citizens, there are companies now offering to assist in the situation by purchasing patients’ pre-existing life insurance policies in order to supply them with up-front costs that they may need in order to cover home expenses, college tuitions or any other significant financial obligations. This transaction is called a Viatical. Viatical settlements, or a life settlement, allow patients to essentially sell their life insurance policy in order to finance any current expenses that they may have. A comprehensive resource to learn more about viaticals is http://www.viatical.org/.