What Illnesses Qualify for a Viatical Settlement?

A common question about viatical settlements is: does my diagnosis qualify? The answer depends on the specific illness, its severity, and the life expectancy associated with the diagnosis.

Viatical settlements were originally designed for policyholders with terminal illnesses — conditions with a life expectancy of two years or less. Over time, the market has expanded to include chronic illnesses, which are defined as conditions that prevent the insured from performing two or more activities of daily living, or that require substantial supervision due to cognitive impairment.

Conditions that commonly qualify include cancer (various stages), heart disease, ALS (Lou Gehrig's disease), Parkinson's disease, multiple sclerosis, kidney failure, liver disease, HIV/AIDS, and other serious chronic or terminal conditions. This is not an exhaustive list — the specific diagnosis and its current stage are what matter most to buyers.

The policy itself must also meet certain criteria: typically a face value of $100,000 or more, and a policy type that is eligible (whole life, universal life, and some term policies may qualify).

The only way to know for certain whether your situation qualifies is to have your policy and medical history reviewed. Call Jack Davis at Eagles Soar Enterprises — 727.735.3200 — for a free, confidential evaluation. Jack will assess your specific circumstances at no cost and with no obligation.