Life & viatical settlements in Florida

How life settlements work in Florida

Life and viatical settlements in Florida are regulated under Fla. Stat. §626.991. The Florida Department of Insurance licenses both viatical providers and brokers, and requires written disclosures, a 15 days rescission period, and standardized contract forms.

For cancer patients in Florida, the most common path is a viatical settlement under IRS §101(g), where proceeds are tax-free at the federal level if you’re certified as terminally or chronically ill. Florida conforms to federal tax treatment for these settlements.

Medicaid impact in Florida

Florida’s Medicaid asset limit is currently $2,000 for individuals (2026). A lump-sum settlement that exceeds this limit can disqualify you from coverage. Specialized trust structures (special needs trusts, pooled trusts) can preserve eligibility but must be established before proceeds arrive.

This is the single most important planning step for Florida patients receiving a settlement. We’ll connect you with a Florida elder law attorney if you’d like guidance.

What’s different about Florida

• Rescission period: 15 days from contract signing to change your mind
• Required disclosures: Buyers must provide written disclosures including alternatives (loan, surrender, ADB rider)
• Privacy: Medical and policy information is HIPAA-protected throughout
• Tax treatment: Florida follows federal §101(g) for viatical proceeds

Major Florida cities we serve

Statewide. Our licensed specialists work with policies throughout Florida, with no in-person meetings required. Documentation, signatures, and notarization can all happen remotely.