August 3, 2012

New Use for Life Insurance Policy

By Kate Grask
ViaSource Funding Group, L.L.C.

ViaSource Funding Group, L.L.C. offers a new use for an old financial planning tool, your life insurance policy. Few people realize that under certain circumstances, their life insurance policy can be sold like other assets. Since 1999, ViaSource has specialized in the purchase of only one asset – life insurance policies.

Selling one’s life insurance policy is referred to as a life or viatical settlement. Our unique structure and experience in the insurance, finance and medical industries enables us to purchase these policies in a manner that gets as much money into the hands of the policy owner as possible.

Most consumers are unaware that life insurance policies, like other assets, can be sold to generate cash during a terminal or chronic illness. With access to hundreds of millions of dollars each year, we have assisted thousands of families and individuals as they struggle with the financial stresses and uncertainty created by a terminal or chronic illness. Additionally, we have provided a new market for seniors to sell policies that they either do not want or need, alleviating the financial burden of premium payments and replacing it with cash.

Funding provided by ViaSource has:
• prevented foreclosure of homes
• funded medical treatment and offset medical expenses not covered by insurance
• provided the funds for hospice care, assisted living and nursing home expenses
• replaced lost income

Example Case:
CONDITION: Stage IV non-small cell lung cancer
AGE: 63
POLICY: $252,000

After several years of coping with Stage IV lung cancer, the insured elected to sell his policy and purchase a recreational vehicle and travel around the United States. The insured and his spouse planned and began their travels throughout the Southern and Mid-Western areas of the country as the purchase of the policy came to a close.

ViaSource strives to extend offers that work well for all parties. Unlike other companies, we do not “low ball” consumers and every offer is accompanied by a “proof of funds letter” from a reputable banking institution. ViaSource has ample funding and does not have to search for new financing with each purchase. The Proof of Funds Letter confirms that the funds are available, earmarked for the purchase of the customer’s policy, and held in an escrow account.

ViaSource does not charge the seller any fees associated with the sale and our highly confidential 4-6 week process can be stopped at any time prior to the seller being paid. It can also be reversed within 15 days after the customer has received the purchase price. Our Highest priority is to maintain the security of our clients. Our 4-6 review process is entirely confidential. All financial and health information reviewed by our firm is kept in a secure location with limited access. All health information is reviewed by our in-house medical staff and maintained in a HIPPA compliant manner, similar to how your own physician handles this information. For more information, or to determine if you qualify, call ViaSource today 1-888-831-1233 or visit our website at