An insured with a life-threatening disease has financial difficulties. Which option could he utilize right now?

A viatical settlement is a financial option available to individuals who are terminally ill or have a life-threatening disease. This arrangement involves selling an existing life insurance policy to a third party for a lump sum payment that is typically less than the policy's face value but more than the cash surrender value. This is particularly beneficial for someone facing financial difficulties, as it provides immediate funds that can be used to cover medical expenses, pay off debts, or manage other financial obligations.

In this context, the viatical settlement allows the insured to leverage their life insurance asset to access cash during a critical and potentially overwhelming time. This option is specifically designed for individuals with a limited time expected to live, making it a suitable and viable choice for someone with a life-threatening illness who needs financial assistance right away. The other choices, while relevant in different scenarios, do not directly provide immediate financial relief in the same way a viatical settlement does.