PENSACOLA, Fla. – Two men have been sentenced to federal prison for taking millions of dollars from investors promised big profits on life insurance policies supposedly bought from terminally ill people.

The people, however, remained alive and about 4,000 investors across the country lost their investments in LifeTime Capital Inc. and related companies run by David W. Svete and Ron Girardot in South Florida and the Dayton, Ohio, area, federal prosecutors said.
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The positives of a viaitical settlement or a life settlement out weight the negatives, however just like anything, there can be a few disadvantages.

Receiving a lump sum cash settlement can make you more vulnerable to creditors who already have outstanding judgments against you.

Cashing in your life insurance policy can also affect your eligibility for public assistance programs, such as:

* Medicaid
* Supplemental social security income
* AFDC (Aid to Families With Dependent Children)
* Other supplemental programs, such as drug purchase assistance programs

Cashing in the death benefits under your insurance policy may also impact on insurance benefits for other family members, so it’s a good idea to read your policy carefully and make sure you understand all the consequences of making a viatical settlement.

Due to the potential legal, tax and other financial considerations, it’s important to consult a lawyer and tax advisor before making a viatical settlement.

Life Settlement Pro would be glad to answer any settlement related questions or inquiries, please call us toll free at 1-888-973-8377 or email us. Thanks