About the Viatical Industry

Below is information that any insurance agent or policy holder can use when considering taking part in a viatical settlement. This has been provided so that a person can take part in a viatical settlement and not run into any delays or extra stress on their life.

The viatical industry is made up three levels. As a viator (policyholder), you will only be dealing with two of these levels. These levels are the viatical broker and the viatical provider. The third is the institutions that receive the death benefit, they have no interaction with you as the policyholder or insured.

Viatical Brokers handle all aspects of the transaction, even when you have accepted an offer your broker will help you get your closing information together and even send you the contracts. Remember viatical brokers provide the advantage of getting multiple offers with minimal work on your behalf.

Viatical Providers are the companies that represent the institutional funding groups. They are the ones that determine offers and also manage the life insurance policy after it is sold. The reason policyholders do not contact providers directly is because they do not know about all of these companies and they do not have the experience in negotiating with these companies.

Industry Competition - In respect to the viatical settlement market, there are only twenty reputable viatical funding companies in the country. As a result, sending your case to multiple viatical brokers does not help your case. All of the viatical brokers in the country deal with these funding companies, so when a funding company receives the same case from two different sources, it makes the purchase less desirable. In turn the client in most cases, will see delays and even less money because of lack of interest in the case.

Our advice - Choose a company that can get your case bid on in a timely manor. Someone that wants to work with you and that keeps in good communication whether it be via email, phone calls, or another means. Ideal Life Settlements is a viatical broker that has no interests or affiliations with any funding company in the country. Our underwriting process is streamlined to get you a bid in the quickest amount of time possible. On average we have bids for our clients within two weeks of receiving their medical records and other basic information. This means you will get your money faster and you will avoid having to make a premium payment before your case is completed.

If you have a question you do not see hear, you can complete our question form or call us at 1.800.622.7079

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