Life Insurance Advance
Life Insurance Advance offers qualified Policy Owners who are terminally-ill the option of getting a lump sum of cash in the form of a loan secured solely by their Life Insurance Policy.
Qualified Terminally or Chronically ill Policy Owners faced with medical, travel, lodging, and household expenses commonly find that they need cash now, they typically do not want to sell their life insurance policy as they would in a typical Viatical Settlement. Policy Owners in this situation realize that their loved ones will need a life insurance benefit after they die, and may prefer a Life Insurance Advance.
A Life Insurance Advance is often the ideal solution for qualified Policy Owners in this situation. Unlike a typical Viatical Settlement, where the life insurance policy is sold outright to a direct buyer in the secondary life insurance market, a Life Insurance Advance provides a tax-free lump-sum cash advance against the Policy Owner’s life insurance policy. Better still, the Policy Owner continues to own their policy, and their beneficiaries still receive a portion of the death benefit upon the Owner’s passing.