Viatical Settlements

Viatical settlements (also called senior settlements) are one means of paying for long-term care you already need but can't afford. If you have a life insurance policy, you can sell it to a viatical settlement company. They will pay you a portion of the value of the plan immediately, so you can use it to pay for your care. (The amount you get will be less than the full value of the plan, but more than the cash value - more than what you could get from the insurance company for cashing it in.) When you die, the company gets the full life insurance benefit - which, obviously, means your heirs won't. (source - www.helpguide.org )

Consumer Books on Viatical Setlements

What are Viaticals (Life Partners)

Tax Information for Viatical Settlements

Viatical Settlements (Growthhouse.org)

Viatical Fraud (D.A. Kohtz, JD)