Re: what is a viatical? - Posted by Bill Gatten
Posted by Bill Gatten on October 28, 2000 at 19:05:36:
The most common viatical today is the purchase of life insurance benefits from someone who is terminally ill. The sick person has to prove that he or she is definitely going to die soon, whereupon you buy out their life insurance policy for cash. They die, you get rich and the dead guy had some serious money to spend in the singles bars while he was dying. A bit morbid sounding, but a good deal for the terminally ill patient.
Problem with viaticals nowadays, is that they’re finding cures for everything…and you never know that your guy won?t find a cure and welch on you. He?s liable to come back later and announce that he just bought YOUR viatical. There is just no justice in the world. When the Doctor says you only have 90 days to live, then you should honor that as a commitment and do as he says. Otherwise, another poor unsuspecting investor is going get taken to the cleaners.
If anyone is interested in partnering up, I?m thinking of founding a non-profit viaticals enforcement agency. It surely is needed. ?No doubt about that! When the Doc say 90 days?we make it 90 days!