Our Fifth Season Fine Print
Fighting cancer presents more than enough complications in your life. That’s why we are committed to keeping every aspect of our LILOC program as simple and up-front as possible, including the fine print — because we want you clearly to understand that there are no hidden costs, requirements, or stipulations attached to receiving our financial assistance.
The way we see it, the more you know, the better you and your family can make a timely and informed financial decision designed to restore personal control and quality to your lives. That said, we invite you to become acquainted with some of the specifics related to Fifth Season’s LILOC program.
- Depending upon your state of residence, generally the average annual interest rate payable under your LILOC is 17% (which rate may be subject to increases or decreases during the term of your LILOC). Additionally, an origination fee equal to 3% of the face amount of your policy will be charged to your LILOC account. Your costs are fully disclosed in more detail and agreed upon before you enter into your LILOC and are, in almost all cases, subject to regulation by your state’s consumer finance laws and/or consumer protection agencies.
- Fifth Season LILOC transactions are available in most states.
- Fifth Season LILOC transactions are in no way Viatical Settlements or Life Settlements. Our financial assistance is unique and offers significantly different benefits to you and your family.
- The actual amount of financial assistance made available by Fifth Season is based upon several factors: (1) the size of the life insurance policy; (2) the expertly determined remaining life expectancy of the insured; and (3) policy premiums payable in the future.
- Projected life expectancy of five years or less is required to establish eligibility for a Fifth Season LILOC.
- Independent oncologists work closely with Fifth Season to review your medical records (no physical examination required) and to confidentially establish probable remaining life expectancy (statistically expressed for a large class of cancer patients who share a similar medical profile).
- Depending upon probable remaining life expectancy, the amount of financial assistance which Fifth Season may propose generally is between 35% and 75% of your policy’s face amount.
- All information concerning your medical condition will remain strictly confidential. Fifth Season never shares or sells any information related to its customers to any third-party and our Confidentiality and Privacy Policy is compliant with all federal regulations.
- If you encounter more rapid disease progression than originally determined, the amount of your financial assistance may be increased. If your cancer stabilizes and your condition unexpectedly improves, there is no penalty and your LILOC transaction with Fifth Season is not affected.
- There are several requirements regarding your life insurance policy’s eligibility. The policy must be issued by a life insurance company that has a high claims paying or solvency rating (most qualify in this regard). The policy must be assignable and incontestable (over two years old). Your policy need not have any “cash surrender value.” Group coverage and individual term or whole life policies generally are acceptable.
- Cancers that are life-limiting, recurrent, or have distant metastases generally suggest eligibility for a Fifth Season LILOC.
- Certain non-metastatic cancers also may qualify.
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