AIDS and the Law Page: 14 of 24
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AIDS AND THE -AW
debts, to travel, or to make gifts to loved ones.
I'm not sure if I have life insurance. How can I find out?
Most people purchase individual life insurance policies for themselves
or a loved one, or else get life insurance under a group policy where they
work. You should check your own records or ask loved ones to find out
whether you have an individual policy. You should check with your
employer to find out, as part of your benefits package, whether you have
life insurance under a group policy. Your employer is legally obligated
to provide you with this information.
What kinds of life insurance policies allow viatical settlements?
Virtually all individual and most group policies can be converted to
allow a viatical settlement. For a person with HIV, a buyer will usually
not be willing to purchase the policy unless you have had it for a mini-
mum of two years.
Are all firms that handle viatical settlements alike?
No. There are numerous firms in the viatical settlement industry, but
some are more reputable than others, and some give a portion of profits
back to the HIV community. At a minimum, be sure that any firm you
deal with keeps your funds in an escrow account while the transaction is
pending to ensure that you are paid. Also be sure to secure an attorneys
advice before signing the settlement. In Texas, the industry is not regu-
lated by the government, but there is an industry group called the
National Viatical Association which requires its member companies to
subscribe to a Code of Ethics and Standards of Business Practices. The
National Viatical Association can be reached at 1-800-741-9465. You
should always seek outside advice before dealing with a viatical firm
about which you have little information.
As a person living with HIV how much should I expect to get from a
viatical settlement?
The amount offered depends mostly on the buyer's guess of your life
expectancy, but also on the reputation and stability of the insurance
PAGE 14
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AIDS and the Law, pamphlet, Date Unknown; (https://texashistory.unt.edu/ark:/67531/metadc1457499/m1/14/: accessed July 17, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Libraries Special Collections.