Prospective viators often make the mistake of dealing with only one broker or viatical company. Many times they may choose the "oldest" company or the "biggest" company. But one must always keep in mind that this is a seller's market, and if a potential viator seeks offers from a number of companies -at least six- the companies will attempt to outbid each other for the business. Always let all the bidders know that they are being bid against so they won't be tempted to keep their offer low.

In multiple bidding it is not the easiest thing to complete a lot of forms, especially if you don't feel well, but it is the only way to be sure you are selling your policy for top dollar. One option is to send copies of a Xeroxed form to several companies. This may work well for the initial stages of the bidding process. Also, many brokers will tell you that they will bid multiple companies with just one set of papers. If you choose this method, then ask the broker to give you a list of the names of each company that they submitted your policy to. Also, the broker must mention the amount of each bid that was received. Some caution must also be implemented when dealing with the brokers. There are some brokers who will recommend the company that pays them the highest fee, rather than you the highest price.

Also, do not forget to mention to your doctor the number of companies that you are applying to. This will create fewer hassles for your physician and help him in making a number of copies of your medical records.

Soliciting multiple bids helps in obtaining the best offer, and this bidding system often results in a cash settlement that is several thousand dollars more than the offer they would have received had they gone through just one company.