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Most calls we have fielded from CPAs and Accountants over the past 15 years have been around cost basis. Accountants -many for the first time- were trying to calculate the cost basis of a life insurance policy. There was a next to impossible computation to interpolate the cost basis, which relied on cost of insurance information from the insurance company and many insurance companies wouldn’t disclose the information and some didn’t even track it. It became much easier to determine life insurance cost basis in 2017 with the passage of the Tax Cuts and Jobs Act.

Today things are very different, most of the calls we get from Accountants are around assisting or facilitating the sale of their client’s life insurance policy. Many of the CPAs and Accountants are navigating a life settlement for the first time, because their client’s insurance agent or advisor is restrained from mentioning a life settlement, even though it is in their shared client’s best interest.

Long term care defines a range of services that refer to people with differing personal care needs. It isn't something that can be defined as a single type of service. As a purely medical service long term care is a form of healthcare that delivers assistance to people with chronic illness or disability. However, for others it can also be a type of care that assists people who cannot perform basic tasks essential to normal living. These are known as Activities of Daily Living (ADLs) such as eating, dressing, bathing, getting out of bed, using the toilet and so forth. Then, for those who seek to continue living independently despite slipping health, long term care can even include assisting with Instrumental ADLs (IADLs) such as cooking, shopping, managing money, taking medications and other activities a fully functional person normally performs. Understanding the cost of long term care is crucially important for both Seniors and those close to retirement.

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Life Settlements News Feed and Blog

How to Tell If Your Life Insurance Policy Is Eligible for Sale

Surprising Facts About Life Settlements You Didn’t Know

What Happens If You Let Your Life Insurance Policy Lapse?

How Much Money Can I Get for My Life Insurance Policy?

Long Term Care Insurance vs Life Settlements

How Life Settlements Impact Medicaid Eligibility

Importance of Medical Information in Life Settlements

Can You Sell a Policy Without Cash Value?

Are Life Settlement Proceeds Taxed?

Impact of Health Changes on Life Insurance Policy Value

Turn Life Insurance into Cash

How to Cancel a Life Insurance Policy

Reverse Life Insurance Policy Sale

Sell My Life Insurance for Cash

Using Life Settlements to Pay for Long-Term Care

Life Settlement Eligibility Do You Qualify?

Sell Life Insurance for Cash Reviews

Impact of Inflation on Life Settlements

What is a Life Settlement and How Does it Work?

The Role of Life Settlement Brokers

Sources of Retirement Income

Paying for Cancer Treatments with a Life Settlement

How to Pay for Memory Care

Life Settlements for Senior Living

Life Settlement vs Surrendering Policy

Do You Get Money Back if You Outlive Term Life Insurance?

Advisers Dealing with Underperforming Universal Life

Accountants, CPAs Discovering Hidden Value in Life Insurance

Financial Advisors and Life Settlements

The Cost of Long Term Care

What Is Reverse Life Insurance?

New Florida Life Insurance Law Affects Life Settlement Regulation

Understanding Life Settlement Brokers and Life Settlement Providers

Irrevocable Life Insurance Trust and Life Settlements

Paying For Long Term Care With A Life Settlement

FDIC Says Reverse Mortgage Can Be Risky

Cruise ship care: real or urban legend?

Long Term Insurance Showing High Rate Of Lapse

All ages procrastinating long-term savings

Borrowing Against Life Insurance – Can You?

What To Do When Your Term Life Insurance Expires

Tap Into Life Insurance

Paying For Home Care

Viable solutions for assisted living costs

Paying For Home Health Care Costs

Understanding Viatical Settlement Companies

New Regulation Proposed For The Life Settlement Industry

Is Long Term Care Insurance Really The Solution?

Do I Need A Life Settlement Broker When I Sell My Life Insurance?

Anna’s Story of Triumph

What Are Life Settlement Providers?

Preparing for Long Term Care

Getting The Most Cash For Your Life Insurance Policy

Can I Sell My Universal Life Insurance policy?

In Home Care: an AARP report

Why Didn’t My Agent Tell Me I Could Sell My Life Insurance?

Retain a Portion Settlement in action

Receiving a Term Life Settlement

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