Paula Schmidt
Abstract
There are three options available for terminally ill insureds who are interested in accessing all or part of the face value of their life insurance policies: through the life insurance company (accelerated death benefits), through a viatical company (a viatical settlement), or through a viatical loan company (a viatical loan). This paper explores the definitions and tax regulations, calculations, and the claims process associated with accelerated death benefits and viatical settlements and loans
Key words and phrases: life expectancy, claims, taxes, regulations
Paula Schmidt