CASE STUDIES
Some companies have negotiated
millions of dollars in settlement proceeds for terminally-ill clients.
These clients have used the funds to alleviate financial stress, improve
medical care, pay off debts, purchase dream homes, and go on a once in a
lifetime dream vacation with their family. In each case, the
settlement proceeds were used to enjoy the remainder of their life with
their family - free of financial burdens.
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Mr. Myers is a 58-year-old
engineer with terminal cancer. He was informed that he had two years to
live. The family's medical bills and monthly expenses began to mount
because Mrs. Myers could no longer work; she had to stay home to care
for her husband. Realizing there was a $500,000 term life policy on Mr.
Myers, their financial advisor informed them about viatical settlements.
Their advisor contacted
some companies to begin the process. Due to the seriousness of his
illness, Welcome Funds negotiated an offer of $350,000 to Mr. Myers. The
couple used these funds to pay off their remaining mortgage and to hire
a home care nurse. Mrs. Myers returned to work, which helped cover
their daily expenses. At the same time, the couple no longer had to pay
the $6,000 a year premiums, which freed up more cash for the couple.
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Steve is a single male who
was recently diagnosed with metastasized male breast cancer. He was
lucky enough to have quality health insurance coverage, which would take
care of the majority of his medical bills. Steve, however, wanted to
try an experimental treatment that would not be covered by his health
plan.
Steve decided to sell his
$100,000 term policy in order to fund this alternative medical therapy.
In just 4 weeks, Welcome Funds was able to negotiate a $71,000 purchase
price for the policy. Steve was able to pay for his experimental
therapy, while also having enough money left to go on a vacation.
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