“Cashing Out” Exposes Untold Story of AIDS, Survival, and Exploitation in The New Yorker Premiere

September 10, 2025 at 08:51 AM EDT

Matt Nadel’s Oscar®-qualified documentary shines a light on overlooked stories of survival and dignity during the AIDS crisis — a timely reminder of how fragile progress remains, and why queer voices matter in preserving our history today.

(PRUnderground) September 10th, 2025

“Cashing Out,” a 40-minute documentary from GLAAD Award–nominated filmmaker Matt Nadel, premieres today on The New Yorker’s platforms, uncovering a hidden story from the height of the AIDS crisis: how thousands of people with AIDS sold their life insurance policies to investors for quick cash.

At just 26, Nadel represents a new generation of queer filmmakers reclaiming history that has been too often overlooked. With candor and urgency, he draws a line from the viatical settlements of the 1980s and 1990s to today’s questions about equity, access, and dignity. And he does it through the prism of his own unlikely personal connection to this industry.

From a star-studded executive producing team that includes Matt Bomer, Angeria Paris VanMicheals, and Oscar®-nominated filmmaker Julie Cohen, the film revisits the morally complex world of “AIDS profiteering” — and how it enabled both survival and exploitation for people living with AIDS at a time when institutions failed them.

The film also marks a milestone partnership with the National AIDS Memorial, which has launched a new intergenerational storytelling campaign called “The Quilt Can Be A Comforter.” The Life Insurance Settlement Association (LISA) joined the campaign as the presenting sponsor.

“The industry highlighted in Cashing Out has evolved into the modern-day life settlement industry, which provides seniors or those with terminal illnesses, who hold life insurance policies, with an option to cash in their policies for immediate benefits rather than allowing them to lapse. The National AIDS Memorial is committed to sharing the story of the AIDS crisis and the lessons that can be learned from it. As a man who lived through the darkest days of the AIDS crisis, I remember firsthand the struggle many faced and how the viatical process presented both challenges and opportunities.”
— John Cunningham, executive director of the National AIDS Memorial

“Cashing Out” shines a light on a profoundly human chapter in the life settlement industry, when people with AIDS faced impossible choices. For LISA, supporting this film was essential—not only to honor the origins of our industry, but to ensure those stories are told with compassion and dignity. Our partnership with the National AIDS Memorial reflects our commitment to transparency and education, and to ensuring life settlements remain a safe, well-regulated option that helps more people achieve their financial goals.”
— Bryan Nicholson, executive director, Life Insurance Settlement Association (LISA)

“I had never heard about this industry until I discovered a few years ago that I had an unnerving personal connection to it. Making this film allowed me not only to reckon with something personal, but also to connect AIDS history to timely questions around care, equity, and the cost of dignity in this country. Right now, those questions could not be more relevant.”
— Matt Nadel, Director of Cashing Out

Cashing Out is part of the award-winning New Yorker Documentary series, which showcases innovative short films from around the world. Produced by both emerging and renowned filmmakers, the films depict uncommon perspectives on issues that matter.

A Memorial and a Call to Action

Cashing Out highlights the fragility of progress. The same inequities and barriers that cost lives in the 1980s and 1990s persist today—especially as political shifts threaten continued access to HIV treatment and prevention. The film is both a memorial and a call to action, urging us to safeguard care, preserve funding, and ensure that no community is left behind.

About the Filmmaker

Matt Nadel is an award-winning queer Gen Z filmmaker and journalist whose work focuses on justice, survival, and untold queer histories. A Yale graduate, his films have been distributed by The New York Times and The New Yorker, attracting widespread media coverage and popular recognition, bolstered by support from institutions such as the Catapult Film Fund and Field of Vision. His short CANS Can’t Stand earned a 2024 GLAAD Media Award nomination, premiered at the Cannes Emerging Filmmaker Showcase, and won audience awards at Outfest and NewFest. His latest film, Cashing Out, which explores the AIDS-era viatical settlement industry, has screened at leading festivals and qualified for the 2026 Academy Awards.

View the Film

Premieres free on September 10, 2025; view at www.cashingoutmovie.com

Also, explore Matt Nadel’s work at www.mattnadel.com

About National AIDS Memorial

About Cashing Out
Cashing Out is a 40-minute documentary from GLAAD Award–nominated filmmaker Matt Nadel, executive produced by Matt Bomer, Angeria Paris VanMicheals, and Oscar®-nominated Julie Cohen. Premiering on The New Yorker platforms, the Oscar®-qualified film explores the untold story of the viatical settlement industry during the AIDS crisis, when thousands of queer people sold their life insurance policies for survival. Produced in partnership with the National AIDS Memorial and supported by the Life Insurance Settlement Association, the documentary underscores the fragility of progress in health equity and the power of storytelling to preserve queer history.

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