Choosing a Trusted Viatical Settlement Broker in Fort. Lauderdale
When facing a serious or terminal illness, financial stress should not be an additional burden. A viatical settlement allows you to access the value of your life insurance policy while you’re still alive—offering relief and support during a challenging time. With the help of a trusted viatical settlement broker in Fort. Lauderdale, such as Summit Life Insurance, you can unlock the funds you need to focus on your care and quality of life.
What Is a Viatical Settlement?
A viatical settlement is a financial transaction where a life insurance policyholder sells their policy to a third-party buyer in exchange for a lump-sum cash payment. This option is typically available to individuals diagnosed with a terminal illness and a life expectancy of less than two years. The buyer then becomes the policy beneficiary and assumes responsibility for future premium payments.
Working with a viatical settlement broker in Fort. Lauderdale ensures that you receive the best possible offer in the marketplace.
Role of a Viatical Settlement Broker
A viatical settlement broker serves as your advocate throughout the settlement process. Rather than selling directly to one buyer, a broker shops your policy to multiple institutional buyers, encouraging competitive bidding to maximize your return.
At Summit Life Insurance, our licensed brokers are deeply experienced in viatical transactions. They understand the urgency and sensitivity of your situation and work quickly to secure fair offers, all while providing compassionate, confidential service.
Why Work with a Broker Instead of Going Direct?
Some policyholders are approached directly by settlement providers or buyers. While this may seem convenient, it often results in lower offers. A viatical settlement broker in Fort. Lauderdale levels the playing field by:
Presenting your policy to multiple buyers
Negotiating better terms on your behalf
Ensuring full transparency and disclosure
Helping you understand the tax and legal implications
Summit Life Insurance is committed to acting solely in your best interest, giving you the advantage of representation and expert guidance.
Benefits of Viatical Settlements
Choosing a viatical settlement offers several advantages, especially when managed by a professional broker:
Immediate Access to Funds: Use the lump-sum cash payment for medical care, living expenses, debt reduction, or family support.
No More Premium Payments: The buyer assumes the responsibility of maintaining the policy.
Peace of Mind: Reduce financial anxiety and focus on what matters most—your well-being and loved ones.
Summit Life Insurance works closely with clients to ensure these benefits are realized quickly and efficiently.
Who Qualifies for a Viatical Settlement?
Not everyone is eligible for a viatical settlement. General qualifications include:
A life expectancy of 24 months or less
A life insurance policy valued at $100,000 or more
A policy that has been in force for at least two years
If you meet these criteria, a viatical settlement broker in Fort. Lauderdale like Summit Life Insurance can begin a free policy review to assess your options.
The Viatical Settlement Process
Here’s how Summit Life Insurance helps clients navigate the settlement process:
1. Initial Consultation
Our licensed broker will explain the viatical settlement process and collect necessary policy and health information.
2. Market Evaluation
We present your policy to a network of trusted buyers and solicit competing offers.
3. Negotiation
We negotiate with interested buyers to secure the highest possible offer on your behalf.
4. Acceptance and Payment
Once an offer is accepted, legal documents are signed, and you receive your funds—often within a few weeks.
Why Choose Summit Life Insurance?
As a premier viatical settlement broker in Fort. Lauderdale, Summit Life Insurance offers:
Licensed, Experienced Brokers: Knowledgeable professionals who specialize in viatical and life settlements.
Compassionate Service: A supportive team that respects your circumstances and privacy.
Competitive Offers: Access to multiple institutional buyers ensures you get the highest market value.
Local Expertise: We understand Florida laws and tailor our process to comply with all state regulations.
FAQs About Viatical Settlement Brokers
1. Is there a cost to work with a viatical broker?
Brokers like Summit Life Insurance work on commission, only earning when a policy is successfully sold. There are no upfront fees.
2. Will the settlement impact my Medicaid eligibility?
It might. Always consult with a financial advisor or attorney before proceeding with a viatical settlement to understand implications.
3. How fast can I receive funds?
The average timeline is 2–4 weeks after submitting documentation and accepting an offer.
4. Can Summit help with traditional life settlements too?
Yes. Summit Life Insurance is a full-service brokerage handling both life and viatical settlements.
Let Summit Life Insurance Be Your Advocate
If you’re living with a terminal illness and need financial support, a viatical settlement may be the right solution. At Summit Life Insurance, we are more than just brokers—we are compassionate professionals dedicated to helping you get the value you deserve.
Contact Summit Life Insurance viatical settlement broker team in Fort. Lauderdale today for a free consultation and policy review. Your peace of mind is our priority.