When facing a serious or terminal illness, financial stress can add to an already difficult situation. Many Fort Lauderdale residents don’t realize that their life insurance policy could be converted into immediate cash through a viatical settlement.
A trusted viatical settlement broker in Fort Lauderdale—like Summit Life Insurance—can help you unlock the value of your policy, offering financial relief when you need it most.
What Is a Viatical Settlement?
A viatical settlement allows policyholders diagnosed with a chronic or terminal illness to sell their life insurance policy to an institutional buyer for a lump-sum payment.
Key features include:
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The buyer takes over all future premium payments.
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The seller receives immediate cash to use for medical bills, living expenses, or other needs.
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The transaction is regulated, legal, and confidential.
At Summit Life Insurance, we act as your advocate to ensure you get the highest possible payout while making the process stress-free.
Why You Need a Viatical Settlement Broker
A viatical settlement broker represents you—the policyholder—not the buyers. Our role is to:
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Evaluate your policy’s value based on your health status and policy type.
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Shop your policy to multiple institutional buyers to generate competitive offers.
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Negotiate for the best payout to maximize your financial benefit.
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Ensure compliance with Florida regulations for your protection.
By choosing Summit Life Insurance, you’ll have an experienced partner guiding you every step of the way.
Who Qualifies for a Viatical Settlement in Fort Lauderdale?
You may be eligible for a viatical settlement if you:
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Have been diagnosed with a terminal or chronic illness.
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Own a life insurance policy with a face value of at least $50,000.
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No longer wish to maintain your policy or pay the premiums.
Summit Life Insurance offers free policy evaluations for Fort Lauderdale residents to determine eligibility.
Benefits of Working with a Viatical Settlement Broker
Selling your policy with the help of a viatical settlement broker in Fort Lauderdale offers significant advantages:
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Immediate Access to Cash: Use the funds for treatments, caregiving, debt repayment, or improving your quality of life.
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Eliminate Premium Payments: Relieve yourself of costly monthly premiums.
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Expert Guidance: A licensed broker helps you navigate the process with clarity and confidence.
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Confidentiality and Care: Your personal and medical information stays private throughout the process.
The Summit Life Insurance Process
At Summit Life Insurance, we strive to make the process as smooth and stress-free as possible:
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Free Consultation: We start with a no-obligation review of your policy and health status.
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Policy Evaluation: We determine your policy’s current market value.
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Competitive Bidding: We share your policy with our network of institutional buyers to secure the top offers.
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Offer Review: We present all offers and guide you in selecting the best one.
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Closing & Payment: We handle all paperwork to ensure a legal, compliant, and timely transaction.
Why Choose Summit Life Insurance
Residents of Fort Lauderdale trust Summit Life Insurance for viatical settlements because we provide:
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Licensed & Regulated Services: We comply with all Florida viatical settlement laws to protect you.
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Maximized Payouts: Our competitive bidding approach ensures you get the best possible cash settlement.
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Compassionate Support: We understand the sensitivity of your situation and treat you with respect and empathy.
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Transparent Process: We keep you informed every step of the way.
Tax Considerations
In most cases, viatical settlement payouts are tax-free for individuals who are terminally ill. However, tax rules can vary based on your health condition and policy type.
We recommend consulting a trusted tax advisor in Fort Lauderdale. Summit Life Insurance can also connect you with local professionals for guidance.
Final Thoughts
A viatical settlement broker in Fort Lauderdale can help you access the financial resources you need during a challenging time.
With Summit Life Insurance, you’ll have a licensed, experienced, and compassionate partner working to get you the highest payout and the peace of mind you deserve.
Contact Summit Life Insurance today for a free consultation to see how much your life insurance policy could be worth.
