Cash for the Final Days: A Financial Guide for the Terminally Ill and Their Advisors

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9780965261531: Cash for the Final Days: A Financial Guide for the Terminally Ill and Their Advisors
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The first consumer advocacy book on Viatical Settlements, the new industry that buys the death benefits of life insurance from people who are terminally ill. The book includes a discussion of Accelerated Death Benefits, which are paid by insurers and pay almost dollar-for-dollar and much faster than Viatical Settlements. Other sources of cash are included - reverse mortgages are one example - each with arrows that point to areas you should be wary of. The book is intended for professional advisors as well as family and loved ones, since few professionals know enough to give sound advice.

If Viatical Settlements are the right choice, step-by-step guides will help you find a trustworthy buyer, help you get the most money, show you how to reduce risk and how to reduce the tax bite. The Appendix is packed with sample application forms which you may copy, and a Viatical Providers Grid, to help you choose those companies most willing to work with your diagnosis and your type of insurance.

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From the Publisher:

If you are terminally ill and financially desperate, or you know someone in this situation, you'll discover a new industry that buys the death benefits of life insurance for cash. Viatical settlements can be close to a miracle solution, for those who have no other alternative. But if you decide to do business with viatical providers, you need to know the risks and the methods for getting thousands of dollars more than these companies want to pay.

There are dozens of scams - con men who prey on the terminally ill, who use viatical settlements to line their own pockets. Some will take your policy and never pay a dime; or pay two installments, then stop; or pay thousands less than if you knew the rules - rules you won't find anywhere but in this book.

From the Author:

I wrote Cash for the Final Days while advising AIDS patients about tax problems and Viatical Settlements. When I realized that no one outside the local community knew to phone me for advice - local people who had cancer, heart disease, or other fatal illnesses - and that few people knew that in more than a dozen states there were laws to protect terminally ill insureds from the scams that were arriving in my mail box, I knew it was time to make this information available everywhere in the nation.

Viatical Settlements are a wonderful option for those who have none other. But even in states with viatical laws, terminally ill insureds are not protected from the con-men, the scams, and the licensed companies that act unethically.

This means that protection of the terminally ill depends on you and me - the friends, loved ones, caretakers, and professional advisors. And I am passionate about this: We must protect our friends, our loved ones, our clients who depends on us for sound advice - by knowing the enemy.

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Gloria Grening Wolk
Published by Bialkin Books (1997)
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Gloria Grening Wolk
Published by Bialkin Books (1997)
ISBN 10: 0965261530 ISBN 13: 9780965261531
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