Nearly 23.3 million adults living in the United States have received a cancer diagnosis, according to the Center for Disease Control and Prevention (CDC). Lab tests of a patient’s urine, blood, or tissue samples; biopsies; or imaging tests such as magnetic resonance imaging (MRI) scans are methods of cancer detection and diagnosis.

MRIs use computer-generated radio waves and a magnetic field to get a detailed view of body tissues and organs. Patients lie in an MRI machine, where a magnetic field realigns water molecules inside the body for a moment. MRIs are safer than other medical imaging techniques. For example, unlike computed tomographic (CT) scans, MRIs don’t use X-rays, so they don’t expose patients to radiation.

Diagnosis of a Terminal Illness

MRIs improve the diagnosis and evaluation of traumatic brain injuries (TBIs), spinal cord disorders, strokes, and bone infections. Multi-angled, detailed three-dimensional (3D) images produced by MRIs allow doctors to detect tumors and organ abnormalities. Radiologists can examine the brain and spinal cord, liver, uterus, ovaries, kidneys, spleen, prostate, blood and joints, and the heart and blood vessels. The revolutionary technology of Ezra, which utilizes artificial intelligence (AI), has maximized the safety and noninvasive nature of MRIs. Ezra offers a safe and accurate full-body MRI scan that can detect 11 cancer types in men and 13 in women.

The emotional stress of a disease can intensify for individuals who received a short life expectancy following a diagnosis. Terminally ill individuals may fear the changes they will undergo. If these individuals have dependents, they prioritize making sure loved ones will have financial support following their departure.

Many people invest in life insurance to protect their families. Life insurance provides financial support to living beneficiaries of the policy owner following their death. Policyholders make payments on policies; upon the owner’s death, the insurance company pays beneficiaries a sum of money, called the death benefit.

Some people may feel their life insurance is no longer necessary. In some situations, people may benefit from selling their life insurance policies. Selling a life insurance policy allows policyholders to receive a payment of money. The money collected could pay for medical treatments and bills. Policyholders can sell their life insurance policies to a viatical settlement company, such as American Life Fund.

What is a Viatical Settlement?

Viatical settlements allow an insurance policyholder in poor health, the Viator, to sell their life insurance policy to a third party, such as a viatical company. In viatical settlement transactions, the policyholder immediately receives a cash lump sum; this payout is greater than the cash surrender value and lower than the death benefit. The viatical company pays premiums and receives the death benefit from the insurance company upon the Viator’s death.

The precedent for selling life insurance policies to third parties originates from the U.S. Supreme Court Case, Grigsby v. Russell (1911). John C. Burchard, an ill patient requiring an expensive procedure, wanted to sell his life insurance policy to his doctor, Dr. Grigsby. Grigsby agreed to pay the remaining premiums. One year later, upon Burchard’s death, Dr. Grigsby attempted to collect the policy’s death benefit, which an executor fought in court. The insurance policy is a form of property, which made the transfer of it from the owner to the third party permissible. This case concluded with the ruling that policyholders and Viators can allow others, related or unrelated, to purchase and acquire ownership of their insurance policies.

Viatical settlements are specific to terminally ill policy owners, whereas life settlements allow policyholders in good health to sell their insurance policies. Policyholders with a chronic or terminal illness and a two-year life expectancy are eligible for a viatical settlement. Viatical settlement companies consider what disease a person has and what stage it’s in, what insurance they have, and insurance premiums, among other things.

Viators receive free estimates and speak with knowledgeable counselors and applying for a viatical settlement. The viatical company makes an offer and becomes the new policyholder upon the owner’s acceptance of the offer.

A viatical settlement transaction with a company such as American Life Fund is fast, free, and 100 percent confidential. Consulting a high-rated viatical settlement company allows Viators to feel safe and confident in their decision. It gives them immediate access to money that they can put toward paying for medical care and bills and everyday expenses and savings.

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