Accelerated death benefit on life insurance policy

Hi Teri
Your best bet is to talk with your insurance agent/company. You should also talk with your husband's doctor. He would have to provide info on the life expectancy clause, and he might not see the 12 month limit as reality.

There are folks who survive for a long time after a stage 4 diagnosis.

You might want to check with your local American Cancer Society for financial assistance options.

Marie who loves kitties

thxmiker said:

viatical clause
I would read your policy or ask your agent if there is a viatical clause in the policy.

The Agent works for the insurance company and does not have your interest in mind. It is a called a viatical settlement. There are groups that specialize in this type of investment. Yes, it is an investment. We do not have warranty labels on us, and there is no assurance that one will live 24 months vs 12 months. You may have a viatical clause in your policy. If there is not, there are plenty of private investors that will help you. I have a friend with stage 4 colon cancer. She has made it 7 years so far. She asked her Onc, how many of your patients with stage 4 have made it this long. He told you are the first. One never knows...

Best Always, mike

Just saw this article on the
Just saw this article on the WSJ. http://online.wsj.com/article/SB10001424052702304331204577353831460351586.html?mod=googlenews_wsj

There are positive companies that do this. One will need to do a little research.

Best Always, mike

insurance
greetings...

Not sure how big the life insurance policy is, and not sure if it matters to outside investors... but i had met with my life insurance sales guy and discussed the possibilities of "selling the policy" to outisde investors. (much like that WSJ article explianed.)

my life insurance guy says there are specific companies or investors who will buy the policy, make the premium payments and give you money for the policy. It would be a portion of the total death benefit. Not sure if you can have the conversation with the sales rep or not, but it's worth a shot.... if you're faced with debt that is hard to deal with.

hopefully you get the answers you are looking for.
a phone call to the American Cancer Society and meeting with social workers on the finance side of this battle is also a very good idea.

don't be affraid to ASK and Complain!

you're in my thoughts as you face these decisions.

my best
joe

tommycat said:

Here in California there are
Here in California there are companies that advertise that they will buy your life insurance plan from you. From what I understand they prey on desperate people as they give you a pathetic fraction of what's it worth. But it is cold, hard AVAILABLE cash so...they stay in business.
Guess what I'm saying is be careful in your research and subsequent decision.

You would have to pay it
You would have to pay it back if he didn't pass. Stage 4 cancer is not what it used to be, a death sentence in less then 12 months.