Viatical Settlement Taxes in Fort Lauderdale, FL: What You Should Know

Introduction to Viatical Settlements

Viatical settlements are designed for individuals with serious or terminal illnesses who need to access the value of their life insurance policies now. In Fort Lauderdale, this option provides financial relief when it's most needed.

As a licensed viatical settlement broker in Fort Lauderdale, Summit Life Settlements specializes in helping clients navigate these sensitive but essential decisions.

Are Viatical Settlements Taxable?

In most cases, viatical settlement taxes in Fort Lauderdale, FL are not applicable. Under IRS Section 101(g):

• If you’re terminally ill (life expectancy under 24 months), proceeds are generally tax-free.

• For chronic illness, tax-free status may depend on how the money is used (e.g., long-term care).

Summit Life Insurance ensures clients understand these distinctions clearly.

Eligibility Criteria

You may qualify if you:

• Have a terminal or chronic illness

• Own a policy of $100,000 or more

• Are no longer able or willing to pay premiums

We offer a free viatical settlement qualification service to assess your eligibility quickly and accurately.

Using a Viatical Settlement Firm in Fort Lauderdale

As a viatical settlement firm in Fort Lauderdale, FL, Summit Life Settlements provides:

• Fast underwriting and approval

• Compassionate service

• Transparent offers

We help clients access funds within days, not weeks, so you can focus on care and comfort.

Tools to Help You Decide

Our online life settlement calculator in Fort Lauderdale also works for viatical scenarios. It helps estimate potential offers, which can guide medical or caregiving decisions.

Additional Services We Offer

Summit Life Settlements also handles:

• Buy and sell agreement life insurance policies

• Retained death benefit structuring

• Standard life settlements for seniors

Whether your case is medical, financial, or estate-related, our licensed life settlement company supports your goals with integrity.

Final Note

Understanding how viatical settlements are taxed is crucial, especially when you're dealing with health and end-of-life planning. Trust Summit Life Settlements to guide you with clarity, compassion, and expertise as the best life settlement company in Fort Lauderdale.