This video showcases the story of Emily — a fictional character who was diagnosed with a life-threatening illness. Emily requires expensive medical care and her husband, James, discovers during the course of his online research that Emily’s life insurance policy could potentially be leveraged as a cash asset to help defray the cost of medical bills.
We invite you to view this short video to learn how Emily and James were able to finance her medical care by discovering the hidden value in an insurance policy that they were about to let lapse.
While the video characters are fictional, the story it conveys is all too common. For those who have been diagnosed with an advanced stage of cancer or life-threatening illness, the patient’s first thought often centers on the financial resources they will need to finance the best medical care possible.
But even with health benefits paying a portion of medical expenses, the cost associated with being out of work and paying for traditional or experimental forms of treatment are often staggering.
That’s why it comes as no surprise that unpaid medical bills are now the leading cause of bankruptcies in the U. S.
Faced with undergoing treatment while dealing with the stress associated with the cost of care, today patients with limited financial resources are exploring all possible options ranging from crowdfunding sites, to appeals on social media, to entering clinical trials. Still others who have had some degree of success with fundraising are researching alternatives to crowdfunding due to the fees, which can range from 5-20% per donation.
But what many consumers may not realize is that their life insurance policy could be a valuable cash resource to help cancer patients finance medical care. Through a transaction known as a “life settlement” (or a “viatical settlement” for patients with a life expectancy of less than 24 months), a policy owner who qualifies has the ability to sell the policy to an institutional funder operating in the secondary market for life insurance.
Founded in 2004, Abacus Settlements, LLC is a licensed life settlement provider with locations in New York and Tennessee. An active member of the Life Insurance Settlement Association (LISA), Abacus works with professional advisors and consumers in optimizing the value of their life insurance policies. Abacus Settlements provides an online pricing tool to help policyholders obtain an estimate of the value of their life insurance asset. To learn more about Abacus Settlements, visit