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How A Viatical Settlement Can Help Relocation Expenses

October 22, 2020 //  by Geoff

Sometimes life brings about situations that are so tumultuous that they don’t leave you with many options. Two of the most difficult things you’ll ever have to do in life are relocating and making end-of-life preparations, and terminal illness can force you to have to do both.

If you’re fighting a chronic disease, then you already have to deal with high healthcare costs, and there’s nothing cheap about moving either. What if you could get the funds to relocate to a place where you can get the end-of-life care you need and also have money left to spoil yourself a little? Continue reading to see how a viatical settlement could help you with your relocation expenses.

What is a viatical settlement?

Before you get a viatical settlement, it’s best that you know exactly what one is. A viatical settlement is a payout of your life insurance benefits. Benefits can be payed out in one lump sum or in installments.

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Viatical settlements are a financial option for terminally ill people to help with their end-of-life care and other living expenses. The cash value of the settlement will depend on the life insurance policy itself and the life expectancy of the policyholder. As morbid of a calculation method as it is, the shorter your life expectancy is, the more your life insurance policy will be worth once you’ve opted for a viatical settlement.

As with any major investment or purchase, you need to make sure you do your homework before agreeing to anything. Don’t sign any agreement until you have consulted with several viatical settlement brokers and found the best possible settlement for your life insurance policy. A viatical broker or a viatical settlement provider can help you understand your best options and explain any details of viatical settlement contracts.

Viatical settlements can help with moving costs.

Depending on what type of insurance policy you have and its cash value, you may be able to cover all of your moving costs with your settlement and still have money left over to live a little. You won’t know for sure until you’ve gotten estimates from several moving companies in the South Florida region.

Finding a reliable moving company in Fort Lauderdale FL who can work within your budget won’t be hard. Word of mouth is still the best way to find professional movers, and your friends, family, and neighbors will be able to give you an idea of which moving companies are the most trustworthy. Professional movers can do a great job taking care of moving heavy boxes and wrapping your valuables in bubble wrap so that you don’t need to think twice about them during your move. A good reputation is golden in the moving industry, so go with a company that has an excellent customer satisfaction track record.

Use your viatical settlement to treat yourself.

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Suffering from a terminal illness and knowing that another day isn’t promised is terrifying, but you can still make the most of the time you have left. If you still have money left from your viatical settlement after your move, you should spoil yourself a little and have some fun.

With so many relaxing resorts and luxurious getaways in South Florida, you don’t ever have to succumb to boredom. Treat yourself to a shopping spree at Chico’s Off the Rack and some pampering at a day spa. Get some final sale items or enjoy free shipping at chicosofftherack.com. Give yourself a great experience with the money from your viatical settlement. When you’re dealing with a terminal illness, self-care is more critical than ever.

There are other ways to get the funds you need.

Even with a viatical settlement, it’s still possible that you could need additional funds for your moving and living expenses. Remember, the value of your life settlement depends on your policy and your life expectancy. The cost of your relocation depends on the weight of the personal belongings you intend to move, how far you’re moving, and the cost of living in your new city.

If you need additional funds after receiving your settlement, then you should consider selling some of your valuable possessions that you no longer need or use. If you’re downsizing when you move into your new place, then you may able to get a pretty penny for any nice furniture you have that won’t fit into your new place. Also, if your new home already has a washer and dryer in it, then you can sell yours to increase your moving budget.

Category: Money

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Hey there, I'm Geoff. In today's society it is more important than ever to live a safe lifestyle. Keep your home safe, stay safe while traveling and in my case, keeping my blog safe! There is lots of spam and scam out there - so let's try to lead a healthy and fun lifestyle while keeping ourselves and our families safe! Read More…

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