Viatical Settlement Process

Understanding the steps of the viatical settlement process is an important part of the overall transaction. As your first choice as a viatical broker, Ideal has provided the following reference so you know what is taking place at all times. The steps are shown below so you can have a better idea of why it can take 3-5 weeks to obtain offers.

After a client has determined their case qualifies (either using our online tool or speaking with an Ideal advisor), we need to obtain a complete application so we can start processing your application. Once this application is received via fax, mail, or online, we will immediately start on your case.

Your Insurance Policy - In order to provide bids, we require a copy of your insurance policy. If you do not have a copy or an original copy of your policy, we will help you get one. Its that simple, we will even pay any surcharges.

Medical Underwriting - Once the application is received, we obtain medical records (for the last 3 years) from all the doctors listed on the application. After we receive all the records, we send the records out to three licensed underwriters who then provide information funding companies use to determine bid offers. (When clients submit their medical records with their application, this can save us two weeks or more.)

Insurance Underwriting - When a policy is evaluated by our processing team, they need to have the most updated information on the policy. This way the funding company can have the exact values on the policy to make an accurate bid. We will contact your insurance company for general information we need on your policy.

Once we have received everything we need to get you a bid, we match your case parameters with the funding companies in our network. After a few days we present you with the offers we receive. At that point, we will address your needs and get you the highest offer available.  Remember, there is no obligation to accept an offer and no fee for the service.

Ideal is there every step of the way for our clients.



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