Life insurance can be a valuable financial tool, but there may come a time when holding onto a policy no longer aligns with your goals or circumstances. In such situations, a life settlement offers a powerful alternative—allowing policyholders to sell their policy for a lump sum payment. However, not everyone qualifies. Understanding the key life settlement eligibility factors is critical if you're considering this financial option.

This blog breaks down the core eligibility criteria for a life settlement, including age, policy type, policy value, and health condition. Whether you're a retiree evaluating your options or someone exploring life settlement services in Fort. Lauderdale, this guide will help you understand if you qualify.

Age: The First and Most Crucial Factor

When it comes to life settlement eligibility, age is a foundational qualifier. Most life settlement companies look for policyholders who are 65 years or older. The older you are, the more likely your policy is to qualify for a competitive offer. This is because investors are purchasing your policy as an asset, and a shorter life expectancy means a quicker return on their investment.

That said, younger policyholders may also qualify if they are facing significant health issues. Some life settlement services in Fort. Lauderdale will consider individuals as young as 60 if they have chronic or terminal conditions.

Health Status and Life Expectancy

Health plays a central role in determining life settlement eligibility. Individuals with declining or impaired health often receive higher offers for their life insurance policies. The industry standard is that eligible sellers typically have a life expectancy of 2 to 15 years.

Health assessments are used to project this expectancy, with medical records and third-party evaluations being key components of the review process. If you’re considering a life settlement in Fort. Lauderdale, you may be asked to undergo a health review during qualification.

The more limited your life expectancy, the greater the value of your policy in the eyes of buyers. Thus, individuals with terminal or chronic illnesses often find that their life insurance policy can become a significant financial asset through a viatical or life settlement.

Policy Type: Not All Policies Qualify

The type of life insurance policy you own is another essential factor in determining life settlement qualifications in Fort. Lauderdale, FL. The most commonly accepted policies include:

• Universal Life

• Whole Life

• Convertible Term Life

• Variable Life

Among these, convertible term life insurance policies can be particularly attractive if they can be converted into permanent insurance. Most buyers prefer policies with flexible premium structures and long-term coverage stability.

Unfortunately, group life insurance and term policies with no conversion feature are usually ineligible unless special provisions apply.

If you're unsure about your policy's status, speaking with a licensed provider of life settlement services in Fort. Lauderdale can help you determine its viability.

Policy Face Value: Minimum Requirements Matter

The face value or death benefit of your life insurance policy is also an eligibility checkpoint. In general, policies must have a minimum face value of $100,000 to qualify for a life settlement. Some firms may accept slightly smaller policies, but higher-value policies often result in stronger offers.

This is because a larger death benefit represents a more substantial asset to the buyer. However, if you hold multiple smaller policies, they may be bundled or reviewed collectively during the qualification process.

Premium Costs and Policy Performance

Another factor influencing life settlement eligibility is the ongoing premium cost of maintaining the policy. Buyers are interested in policies that are cost-effective to keep active. If your premiums are low relative to the policy’s face value, that boosts the policy’s desirability.

Additionally, policies with strong cash value performance or favorable rider benefits (such as long-term care riders) may further enhance eligibility. Settlement providers evaluate not just the policy type, but also its structure and financial performance.

Before initiating the settlement process, it’s wise to request a policy review from a professional offering life settlement services in Fort. Lauderdale.

Ownership and Beneficiary Structure

Life settlement eligibility also depends on the ownership of the policy. To sell your policy, you must be the legal owner and have the consent of all parties with vested interests, including beneficiaries, if applicable.

If a trust or business owns the policy, additional documentation and steps may be required. The cleaner the ownership history, the faster the process tends to move.

Settlement firms will ask for clear evidence of ownership and updated beneficiary records before proceeding with any valuation or offer.

Geographic Considerations and Legal Compliance

Each U.S. state has its own rules regarding life settlements. In Florida, the law is favorable toward life settlement transactions, offering consumer protections and requiring brokers and providers to be licensed.

Life settlement qualifications in Fort. Lauderdale, FL, align with state regulations that ensure transparency and compliance. This includes disclosures about fees, contract terms, and how personal health data is used.

Working with a licensed life settlement broker in Fort. Lauderdale can help you navigate these state-specific regulations effectively and ethically.

FAQs 

1. What is the minimum age requirement to qualify for a life settlement?
Typically, you must be at least 65 years old, although younger individuals with serious health conditions may still qualify.

2. Can I qualify for a life settlement if I only have a term life policy?
Yes, but only if the policy is convertible to permanent insurance. Otherwise, most term policies do not qualify.

3. How much is my life insurance policy worth in a life settlement?
It varies depending on your age, health, policy type, and face value. Most settlements range between 10% and 25% of the death benefit.

4. Do I need a medical exam to qualify for a life settlement?
No physical exam is required, but your medical records and history are reviewed to assess your life expectancy.

5. Are life settlements legal and regulated in Florida?
Yes. Florida has comprehensive regulations in place to protect consumers during life settlement transactions. Always work with licensed life settlement services in Fort. Lauderdale.

Final Thoughts

Understanding the factors that determine life settlement eligibility can help you make informed decisions about your financial future. From age and health status to policy type and face value, each component plays a role in whether you qualify—and how much your policy might be worth.

If you're interested in exploring your options further, consider speaking with professionals who specialize in life settlement services in Fort. Lauderdale. They can guide you through the evaluation, provide expert advice, and help you unlock the full potential of your life insurance policy.

If you're facing a terminal or chronic illness and considering converting your life insurance policy into immediate cash, a Viatical Settlement can be a valuable option. It allows you to sell your life insurance policy to a third-party buyer—typically through a viatical settlement broker in Fort Lauderdale—in exchange for a lump sum payment. While this option can provide much-needed financial relief, it’s essential to understand the tax implications before moving forward. Many policyholders are surprised by how viatical settlement taxes in Fort Lauderdale, FL may or may not impact them.

In this article, we break down what to expect from a tax perspective, who qualifies for tax exemptions, and how to plan ahead.

What Is a Viatical Settlement?

A Viatical Settlement involves selling a life insurance policy for less than its death benefit but more than its cash surrender value. The buyer takes over premium payments and becomes the beneficiary. When the insured passes away, the buyer receives the death benefit. These transactions are typically facilitated through a licensed viatical settlement broker in Fort Lauderdale or other regulated markets.

This financial solution is often used by people with a life-threatening illness who need immediate access to funds for medical treatments, housing, or other living expenses. While it offers financial flexibility, the IRS has strict guidelines on how viatical settlements are taxed, which brings us to the next point.

Are Viatical Settlements Taxable?

In many cases, viatical settlements are not taxable—but this depends heavily on the insured's health condition and the qualifications of the buyer. According to IRS rules, proceeds from a viatical settlement may be excluded from federal income tax if:

• The insured is chronically or terminally ill.

• The buyer (provider) is licensed in the state where the insured resides.

In such cases, the lump sum payout is treated similarly to life insurance death benefits and is not considered taxable income. However, there are important exceptions, especially in how viatical settlement taxes in Fort Lauderdale, FL are assessed under state laws.

How Are Viatical Settlements Taxed in Fort Lauderdale?

The question "how are viatical settlements taxed in Fort Lauderdale?" doesn't have a one-size-fits-all answer. Florida does not have a state income tax, which is good news for residents receiving viatical settlement proceeds. However, you may still be subject to federal taxes if:

• You do not meet the IRS’s definition of terminally or chronically ill.

• The buyer is not a licensed viatical settlement provider.

• You are the policy owner but not the insured, and therefore don’t qualify for the federal exemption.

In these situations, the portion of the payout that exceeds the policy’s cost basis (i.e., total premiums paid) could be considered taxable income. This can make a significant difference in your tax liability.

Federal Tax Guidelines on Viatical Settlements

Here’s what the IRS generally considers when determining tax treatment:

• Terminally Ill (Life expectancy < 24 months): Settlement proceeds are usually 100% tax-free.

• Chronically Ill: If the funds are used for long-term care services, they may also be exempt from tax.

• Not Ill or Not Certified: The proceeds may be partially or fully taxable.

Documentation is critical. You’ll likely need a physician's certification stating your diagnosis and life expectancy to prove eligibility for tax exclusion.

Choosing the Right Viatical Settlement Broker in Fort Lauderdale

Working with a licensed viatical settlement broker in Fort Lauderdale is crucial to ensuring that your settlement complies with federal and state regulations. A qualified broker can:

• Help you understand tax implications based on your individual circumstances.

• Connect you with licensed providers, avoiding unregulated transactions that could be taxable.

• Maximize your payout through competitive bidding.

• Provide guidance on legal documentation and physician certification required by the IRS.

Reputable brokers will also disclose all fees upfront and help you navigate viatical settlement taxes in Fort Lauderdale, FL in coordination with your financial advisor.

Key Tax Planning Tips Before Selling Your Policy

To reduce your tax exposure and make the most of your viatical settlement, follow these guidelines:

1. Confirm Your Medical Status – Ensure you meet the IRS definition of “chronically” or “terminally” ill with proper documentation.

2. Work with Licensed Professionals – Use a viatical settlement broker and buyer who are both licensed in Florida.

3. Document Policy Costs – Keep records of your premium payments to calculate your cost basis.

4. Consult a Tax Professional – Every case is different; a CPA or financial advisor can offer personalized advice.

5. Review State Laws – While Florida has no income tax, federal tax rules still apply and must be accounted for in your decision-making.

When Might You Owe Taxes?

Here are some examples where viatical settlement taxes may apply:

• If the insured is not terminally or chronically ill, the IRS could view the payment as a sale of an asset and tax any gain.

• If the policy is sold by someone other than the insured, such as an investor or trust, then the tax exemption may not apply.

• If you fail to provide physician certification, your claim for tax exemption may be denied during an IRS audit.

Being proactive is key. Partner with a licensed viatical settlement broker in Fort Lauderdale to ensure all your paperwork is complete and you understand your tax position.

Conclusion

A Viatical Settlement offers hope and financial relief during a difficult time, but it’s not free from legal or financial complexity. While many receive their payout tax-free, it all depends on your medical condition, the documentation you provide, and whether your transaction is carried out by licensed professionals.

If you’re located in Florida, especially around Fort Lauderdale, take advantage of the state’s tax-friendly status and consult a viatical settlement broker in Fort Lauderdale who understands the local and federal tax laws. With the right planning, you can access the funds you need—without an unexpected tax burden.

FAQs

1. How are viatical settlements taxed in Fort Lauderdale, FL?

Viatical settlements are generally not taxed in Fort Lauderdale if the insured is terminally or chronically ill and the provider is licensed. Since Florida has no state income tax, only federal rules apply.

2. What documentation do I need to avoid paying taxes on a viatical settlement?

You typically need a physician’s certification confirming that you’re terminally or chronically ill, along with records proving that the buyer is a licensed provider.

3. Is the entire amount from a viatical settlement tax-free?

If you meet IRS qualifications, yes. If not, the portion that exceeds the policy’s cost basis may be taxable as income.

4. Can a viatical settlement broker in Fort Lauderdale help me reduce tax liability?

Yes, a qualified broker can connect you with licensed providers, ensure proper documentation, and coordinate with your tax advisor to minimize your tax exposure.

5. What happens if I don’t qualify as terminally or chronically ill?

In that case, your viatical settlement may be taxed as a capital gain, and you’ll need to report it on your income tax return.

 Life insurance policies are more than just safety nets, they can also be a valuable source of cash through a life settlement. A life settlement allows you to sell your policy to an institutional buyer for more than its surrender value but less than its death benefit. This process provides a lump-sum payment to meet financial needs or fund new priorities.

What Is a Life Settlement?

A life settlement is a financial transaction where a policyholder sells their life insurance policy to a third party. The buyer assumes the premium payments and becomes the beneficiary. Licensed life settlement companies ensure the process is secure and transparent, helping you get the best offer.

Why Consider Selling Your Policy?

There are several scenarios where selling your policy makes sense:

• Rising Premium Costs: If premiums strain your budget, a life settlement can ease financial pressure.

• Policy Is No Longer Needed: If your beneficiaries' circumstances have changed, the policy may no longer serve its purpose.

• Access Immediate Funds: Use the cash for medical expenses, debt repayment, or retirement goals.

• Reallocation of Resources: Direct your assets towards priorities that matter most today.

How Does the Process Work?

1. Policy Evaluation: Assess your policy’s eligibility based on factors like age, health, and policy type.

2. Consultation: Work with a licensed life settlement company to receive guidance and quotes.

3. Review Offers: Compare bids from reputable buyers to find the best value.

4. Complete the Sale: Transfer ownership and receive your lump-sum payment.

The Role of a Licensed Life Settlement Company

A licensed company acts as your advocate, connecting you with verified buyers and ensuring a secure transaction. They also help you understand the true value of your policy and simplify the process, so you can focus on your financial goals.

Take Control of Your Financial Future

Turning your life insurance policy into cash through a life settlement can provide the freedom and resources you need to address your immediate and long-term goals. If you’re ready to explore this opportunity, reach out to a licensed life settlement company today and discover the possibilities.

For detailed information kindly visit our Blog: https://summitlifesettlements.com/how-to-turn-life-insurance-into-cash/

 When individuals reach a point in life where a life insurance policy no longer serves its original purpose—due to financial changes, costly premiums, or shifting family dynamics—they may consider selling it. This is where a life insurance settlement company plays a critical role. These companies act as intermediaries that help policyholders sell their existing life insurance policies to third-party investors for a lump sum cash payment, often higher than the surrender value offered by the insurance carrier.

What Is a Life Insurance Settlement?

A life insurance settlement, also known as a life settlement, is the legal sale of a life insurance policy to an institutional or private investor. The seller receives an immediate cash payout, while the buyer takes over future premium payments and becomes the policy's beneficiary. When the insured person passes away, the investor receives the death benefit.

This arrangement can be beneficial for seniors who no longer need coverage or who are burdened by high premium payments. The transaction is especially common among individuals over the age of 65 with a policy valued at $100,000 or more.

How a Life Insurance Settlement Company Works

A reputable life insurance settlement company simplifies and manages the process from start to finish. Here's how they typically work:

1. Initial Consultation – The company assesses the policyholder's situation to determine if they are eligible for a life settlement.

2. Policy Appraisal – They evaluate the policy’s value based on factors like age, health, policy size, and type.

3. Market Outreach – The company presents the policy to a network of licensed buyers to obtain competitive offers.

4. Offer & Acceptance – Once an offer is accepted, the company facilitates the sale and ensures legal and regulatory compliance.

5. Payout – The policyholder receives a lump-sum cash payout, which can be used for medical expenses, retirement, debt relief, or other personal needs.

Why Use a Professional Life Insurance Settlement Company?

Working with a specialized company ensures you get fair market value and avoid predatory practices. Reputable companies are licensed, transparent, and operate with fiduciary responsibility. They also handle the complex paperwork and navigate the legal requirements that vary by state.

Here are a few benefits of choosing the right company:

• Maximized Payouts: They shop your policy to multiple buyers to get you the highest bid.

• Confidential Process: Your information stays protected throughout.

• Regulatory Compliance: These companies ensure the deal follows all state and federal laws.

How to Choose the Best Life Insurance Settlement Company

When evaluating options, consider the following:

• Experience and Licensing: Ensure the company is licensed in your state and has a proven track record.

• Client Reviews: Look for positive testimonials and high ratings from past clients.

• No Upfront Fees: Avoid companies that ask for fees before services are rendered.

• Transparency: A trustworthy company will walk you through each step without pressure.

Final Thoughts

If your life insurance policy no longer fits your financial goals, working with a reliable life insurance settlement company could be a smart way to unlock its value. Just make sure to do your research, ask questions, and work with professionals who prioritize your best interests. Whether you're looking to reduce financial strain or fund retirement dreams, a life settlement can be a powerful financial tool when handled correctly.

 If you’ve been thinking about selling your life insurance policy, one of the most important things you can do is start with a free life settlement estimate. It’s not just a number—it’s a crucial tool that helps you understand your policy's current market value and prepares you to make informed decisions.

In today’s market, where more seniors and individuals with serious illnesses are turning to life settlements and viatical settlements, knowing the worth of your policy is more important than ever.

What Is a Free Life Settlement Estimate?

A free life settlement estimate is an evaluation that gives you a realistic idea of how much money you could receive if you sell your life insurance policy. It's based on factors like:

• Your age and health condition

• The policy’s death benefit (face value)

• Premium payments

• Policy type (term, whole, universal, etc.)

Unlike surrendering your policy to the insurance company for minimal value, life settlements allow you to sell your policy to third-party investors who continue paying the premiums and collect the benefit later.

Why It's the First Step That Matters

Many people don’t realize that life insurance is an asset—just like a house or investment account. But selling it blindly or without understanding its value could lead to financial loss. A free life settlement estimate helps you avoid that risk by:

• Showing if your policy qualifies for a sale

• Giving you a baseline for comparing offers

• Providing peace of mind before entering the marketplace

It’s essentially your financial compass in the life settlement journey.

Estimators vs. Viatical Settlement Calculators

Online tools like viatical settlement calculators can be helpful, especially for individuals facing serious medical conditions. However, these calculators are often general and don’t account for every variable. A free life settlement estimate is typically more accurate, especially when done through professionals who understand current market demand.

Both tools are useful—but together, they provide a clearer picture.

How to Get a Free Estimate

Getting an estimate is easy and typically requires:

• A quick online form

• A copy of your policy

• Some basic medical and personal information

Most reputable life settlement companies or brokers offer this service with no obligation to proceed. The process is confidential and non-binding.

Final Thoughts

If you’re thinking about selling your life insurance policy—whether due to changing financial needs, rising healthcare costs, or simply wanting more control over your assets—a free life settlement estimate should be your first move. It’s simple, risk-free, and can help you make smarter choices about your financial future.

Don’t guess the value of your policy. Know it—before you sell it.

 If you’re like many Americans holding a term life insurance policy, you may not realize that your policy could be a valuable financial asset. While most people purchase term life insurance to protect their loved ones, some later discover they no longer need the coverage or can no longer afford the premiums. In such cases, selling your term life insurance may be a practical and beneficial option.

What Does Selling a Term Life Policy Mean?

Selling your term life insurance, also known as a life settlement, is the process of transferring ownership of your policy to a third party, typically an investor. In exchange, you receive a cash payout that is more than the policy’s surrender value but less than the death benefit. After the sale, the investor becomes the new owner, pays the remaining premiums, and receives the death benefit when the insured passes away.

Can You Sell Any Term Life Policy?

Not all term life policies are eligible for sale. Generally, you must meet the following conditions:

• Age and Health: Most buyers are interested in policies from individuals aged 65 or older or those with serious health issues.

• Policy Size: Policies with a face value of at least $100,000 are more attractive to investors.

• Convertible Policies: Term policies that can be converted into permanent life insurance (like whole life) are much easier to sell because they carry long-term value.

Benefits of Selling Your Term Life Insurance

1. Immediate Cash Flow: Selling your policy can give you a lump sum of money you can use for medical bills, living expenses, debt repayment, or even travel and retirement plans.

2. No More Premium Payments: Once the policy is sold, you're no longer responsible for ongoing premiums.

3. Financial Relief: If your policy has become a financial burden or is no longer needed (e.g., your beneficiaries are now financially independent), a life settlement can relieve you of that obligation.

What’s the Process Like?

1. Evaluation: A life settlement broker or provider will assess your eligibility and the potential value of your policy.

2. Offers: Multiple offers may be presented based on your policy and health.

3. Acceptance and Transfer: Once you accept an offer, you’ll complete the paperwork to transfer ownership.

4. Payment: You’ll receive your lump-sum payment, and the new owner will take over the policy.

Potential Downsides to Consider

• Loss of Death Benefit: Your beneficiaries will no longer receive the death benefit.

• Tax Implications: The settlement amount may be subject to income tax.

• Impact on Government Benefits: If you're receiving Medicaid or other assistance, the payout may affect your eligibility.

Should You Sell Your Term Life Insurance?

Selling your term life insurance is a personal financial decision that requires careful consideration. If you no longer need the coverage, or you’re looking for ways to improve your financial situation, this option might make sense. However, always consult with a financial advisor or life settlement broker to fully understand your policy’s value and your options.

Life insurance is often seen as a long-term safety net, offering financial security to your loved ones. However, many policyholders are unaware they have the option to sell their policy through a life or viatical settlement. At Summit Life Insurance, we guide individuals through this process and help them understand eligibility, benefits like the Retained Death Benefit, and how to use tools like the life settlement calculator in Fort. Lauderdale, FL.

If you're exploring a viatical insurance settlement in Fort. Lauderdale or are curious whether a life settlement is a smart financial decision, this guide will break down eligibility criteria and options to retain partial benefits while unlocking cash today.

Understanding Life Settlements: A Quick Overview

A life settlement is the sale of an existing life insurance policy to a third party for more than its cash surrender value but less than its death benefit. The buyer becomes the new policy owner, assumes premium payments, and eventually collects the death benefit. This solution is ideal for seniors who no longer need their policy or find it unaffordable.

For individuals with a terminal illness, a viatical settlement offers a similar process, often with more favorable terms. Working with a trusted viatical settlement broker in Fort. Lauderdale ensures that you receive the best value for your policy.

Who Qualifies for a Life Settlement?

While each case is unique, several common criteria typically determine eligibility:

1. Age and Health

Policyholders aged 65 or older are most likely to qualify. However, those with serious health conditions may be eligible even at a younger age. If you’re considering a viatical insurance settlement in Fort. Lauderdale, eligibility is extended to individuals diagnosed with a terminal or chronic illness, regardless of age.

2. Policy Type

Most eligible policies include:

• Universal Life

• Whole Life

• Convertible Term Life

Term policies must be convertible into permanent coverage to qualify. Your policy type directly impacts how much a buyer is willing to pay—and whether a Retained Death Benefit option is available.

3. Policy Value

Policies with a death benefit of $100,000 or more are generally considered. Smaller policies may still qualify depending on your health and the type of policy.

4. Premium Payments

Lower premium requirements make policies more attractive to buyers. If the cost of maintaining your policy is too high relative to the potential death benefit, it might reduce your chances of a favorable offer.

5. Ownership and Beneficiaries

You must be the legal owner of the policy and have the right to change the beneficiary. If the policy is owned by a trust or business, eligibility may depend on specific legal structures.

To determine your potential payout, use a life settlement calculator in Fort. Lauderdale, FL—an easy way to evaluate your policy’s estimated market value.

What Is a Retained Death Benefit?

A Retained Death Benefit allows the original policyholder or their beneficiaries to keep a portion of the policy’s death benefit even after selling the policy in a settlement. This means you receive a cash payout now while ensuring your loved ones still receive some future financial benefit.

At Summit Life Insurance, we often recommend this option to clients who want to balance immediate financial relief with long-term family planning. This solution is particularly beneficial in Fort. Lauderdale, where the cost of senior healthcare and long-term care services can strain finances.

The Role of a Viatical Settlement Broker in Fort. Lauderdale

If you’re pursuing a viatical insurance settlement in Fort. Lauderdale, working with a licensed viatical settlement broker is essential. These brokers:

• Represent your best interests

• Solicit multiple offers from buyers

• Ensure legal compliance

• Guide you through complex paperwork

Summit Life Insurance works with a network of trusted professionals to ensure policyholders in Fort. Lauderdale receive the highest offers and the most suitable settlement structure—including the possibility of a retained death benefit in Fort. Lauderdale.

Using a Life Settlement Calculator in Fort. Lauderdale

Curious about how much your policy might be worth? Our life settlement calculator in Fort. Lauderdale, FL, offers a no-obligation, quick estimate based on:

• Policy size

• Age

• Health condition

• Type of policy

This tool is especially useful if you’re comparing selling your policy outright versus selecting a retained death benefit. By entering a few details, you can receive an estimated offer range in minutes and make a more informed decision.

Why Choose Summit Life Insurance?

Summit Life Insurance is committed to providing education, transparency, and advocacy throughout the life settlement process. Whether you're seeking to cash out your policy or explore options for a retained death benefit in Fort. Lauderdale, we make sure you understand every step.

We help clients:

• Maximize settlement offers

• Compare benefit structures

• Navigate medical and legal reviews

• Coordinate with licensed brokers in Fort. Lauderdale

Final Thoughts

If you own a life insurance policy that no longer serves its original purpose, exploring a life settlement could be a smart financial move. Whether you’re evaluating your eligibility or wondering about retaining partial benefits, Summit Life Insurance is here to help you understand your options clearly and confidently.

Don’t let your policy lapse or surrender it for less than it’s worth—use our life settlement calculator in Fort. Lauderdale, FL, or consult with a trusted viatical settlement broker in Fort. Lauderdale to discover your full potential payout.

FAQs

1. What is a Retained Death Benefit in a Life Settlement?

A retained death benefit allows the original policyholder to keep a portion of the policy’s death benefit even after selling it. This provides financial support now and leaves something behind for loved ones later.

2. Do I qualify for a life settlement if I’m under 65?

You may still qualify if you have a serious health condition or if the policy is high in value and has favorable terms. Use a life settlement calculator in Fort. Lauderdale, FL to check.

3. What makes a viatical settlement different from a life settlement?

A viatical settlement is specifically for individuals diagnosed with a terminal or chronic illness, while life settlements are generally for healthy seniors over 65.

4. Can I still keep part of my policy after a viatical settlement?

Yes, with a retained death benefit, you can sell your policy and still leave a portion of the benefit to your heirs.

5. How do I start the settlement process in Fort. Lauderdale?

Contact Summit Life Insurance or use our online life settlement calculator to begin the evaluation. From there, a licensed viatical settlement broker in Fort. Lauderdale will guide you through offers and paperwork.