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Question 2 of 10 in Selling Policies--Viatical Settlements |
How is the sales price determined? |
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The sales price is determined by actuaries working for the viatical firm. They analyze the policy to determine its value at the projected time of death of the insured. This is done by using actuarial and medical data to estimate the life expectancy of the insured. Based on this information, they determine how much they are willing to pay the insured for the policy. The insured gets less than the full death claim value, but the money is available while the insured is still alive. |
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