Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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UPDATED: Sep 15, 2020

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The insured needs to consider:

1. the implications to the original beneficiary or beneficiaries. Was the insurance intended to protect the beneficiary against financial loss when the insured dies? What will happen to the beneficiary if a viatical settlement is reached, and then there will be no proceeds available when the insured dies?

2. who will pay any debts or medical expenses after death in the absence of life insurance proceeds.

3. what if the insured recovers, or a cure is found for the insured’s condition?

4. what if the insured dies more quickly than expected? Would it have been better to refuse the viatical settlement and allow the beneficiary to get the full value of the policy?