If you’re exploring your financial options after a serious diagnosis, selling life insurance after a pancreatic cancer diagnosis may be one of the most impactful decisions you can make. Most individuals with advanced pancreatic cancer will qualify for a viatical settlement, not just a traditional life settlement. This means they may be eligible to sell their policy for a lump sum payment, even if it has no cash value, based on their current health status.
A viatical settlement is a specialized type of life settlement designed for individuals with a serious illness, typically with a life expectancy of less than two years. Because pancreatic cancer is often diagnosed in later stages, many patients meet this threshold and can access substantial funds through the sale of their life insurance policy.
What Is a Viatical Settlement?
A viatical settlement allows someone with a qualifying medical condition to sell their life insurance policy to a viatical settlement buyer for immediate cash. The buyer takes over future premium payments and receives the death benefit when the insured passes away. The payout from a viatical settlement is usually tax free and it can be used for anything from medical treatment to paying off debt or creating lasting memories with loved ones. Always consult with your trusted tax advisor regarding your specific situation.
While some individuals with earlier-stage or successfully treated pancreatic cancer may qualify for a traditional life settlement, the majority will qualify under viatical settlement guidelines due to the severity and prognosis associated with this type of cancer. Viatical settlements are essentially life settlements for terminal illness.
Who Qualifies?
Eligibility depends on a combination of medical and policy factors:
- Diagnosis of pancreatic cancer, particularly Stage III or Stage IV
- Inoperable, metastatic, or recurrent disease
- A life expectancy of 24 months or less (longer for a life settlement)
- A life insurance policy with a face amount typically over $100,000
- Policy type: universal life, whole life, or convertible term policies are generally eligible. Other types may also qualify. It is always best to ask.
Many people who don’t have cash value in their policy mistakenly assume they don’t qualify, but even term policies can be sold if they include a conversion option.
Common Treatments for Pancreatic Cancer
The type and stage of pancreatic cancer, along with overall health, influence treatment decisions. Common treatments include:
- Chemotherapy
Often used as a first-line treatment, with drugs such as FOLFIRINOX, gemcitabine, and nab-paclitaxel (Abraxane) - Targeted Therapy
Some patients may receive PARP inhibitors like olaparib if they carry certain genetic mutations (such as BRCA1/2) - Immunotherapy
For patients with specific biomarkers (such as microsatellite instability-high tumors), immune checkpoint inhibitors such as pembrolizumab (Keytruda) may be used - Radiation Therapy
Sometimes used for locally advanced tumors to relieve symptoms or shrink the tumor before surgery - Surgery
In select cases, surgery such as the Whipple procedure (pancreaticoduodenectomy) may be an option, although only a small percentage of patients are surgical candidates at diagnosis - Palliative Care
Focuses on symptom relief and quality of life, and may be provided alongside curative or life-extending treatments
Because treatment costs can escalate quickly and many times, health insurance does not cover all expenses, selling a life insurance policy may provide a critical source of funding when other resources are limited.
Why Consider a Viatical or Life Settlement?
Many individuals are unaware that they can sell their policy for immediate cash. This can be especially important when:
- Treatment is expensive and not fully covered by insurance
- You’re unable to work or earn income
- Your family needs financial support
- You want to reduce end-of-life stress or travel to be with loved ones
- You’re planning for palliative care, hospice, or in-home support
A viatical settlement may allow you to redirect your policy’s value toward living needs, now when you need it the most.
Selling life insurance after a pancreatic cancer diagnosis can provide much-needed financial relief, especially if you qualify for a viatical settlement. Most people with late-stage or inoperable pancreatic cancer do. If your life expectancy is limited due to this diagnosis, you may be eligible to receive a lump-sum payment from your policy without taking out loans, incurring debt, or waiting for a death benefit to be paid to beneficiaries.
If you or a loved one is navigating a pancreatic cancer diagnosis, exploring a viatical or life settlement can help provide immediate support, flexibility, and peace of mind during an incredibly difficult time. Please give us a call today at 800-727-7654 to learn if you qualify.
Do You Qualify?