Viatical Settlement Option

If your dependent is diagnosed with a terminal condition, you may enter into a Viatical Settlement. A Viatical Settlement pays the beneficiary a percentage of the Dependent Term Life benefits now. In exchange, the Viatical Settlement provider becomes the permanent beneficiary of the dependent's life insurance benefits at the time of death.

You will need to research and select a Viatical Settlement provider. Upon your dependent’s death, payment will be made to the viatical settlement provider if the Dependent Term Life insurance is still in force.