FIRST PUBLISHED ON COMPAREFEGLI.COM
FEGLI and Viatical Settlements
Viatical Settlements, in case you didn’t know, are defined as the sale of a policy owner’s existing life insurance policy to a third party for more than its cash surrender value, but less than its net death benefit. The buyer becomes the policy owner and pays the premiums, and gets the death benefits when you die.
Where FEGLI is concerned, there is no cash value, but that’s not stopping you from assigning it to one or more assignees, and one of these may be a viatical settlement company. READ MORE:
MORE FEGLI ARTICLES:
Evaluating your life insurance policy by Todd Carmack
Converting FEGLI to Individual Life Insurance After Separation From Federal Service
Who Gets Your FEGLI Life Insurance Benefits When You Die?