National Association of Insurance Commissioners recommends Life Settlement as a safe option for paying for long term care without insurance. Learn More.
More than 80% of life insurance policies never pay out a death benefit. Even worse, many Seniors find that as they age, their policy premiums skyrocket and become unaffordable. Most people in this situation simply surrender, cancel, or lapse their life insurance policy and lose out on all the years of annual premiums they’ve paid.
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FDIC recently said a reverse mortgage could be a risky choice. Consider reverse life insurance instead. Get cash now without putting your home at risk.
A Life Settlement or Medicaid Life Settlement can help Seniors plan and budget for the ever-increasing costs of long term care – even Cruise Ship Care!
Saving for retirement is contingent on a number of things, and varies by age according to income levels and the relationships individuals have. According to the study workers at all ages and income levels are not be expected to devote much effort in addressing long-term savings needs.
There are two methods for borrowing against your life insurance: borrowing from your life insurance company or borrowing from a life settlement through the secondary market for life insurance.
There are essentially three options for when your term life insurance expires: renew, convert, or sell the policy in a life insurance settlement. However, you must take action now because all of these options entirely evaporate once the life insurance policy has lapsed or expired.
When reaching the latter years of life, it is important to have certain things in place to maintain the standard of living you are used to, and to have the finances to support paying for home care or obtaining a paid caregiver. When faced with these decisions, there are a number of solutions that may work for you. One solution is selling a term life insurance policy through a reverse life insurance policy or a life settlement, which can give you a peace of mind, and the funds needed to do what you need while ensuring your care is in place.
The first step in finding a caregiver is to determine what type of home care the person needs. He or she may need personal care services, companionship, non-medical care, such as homemaker services, or skilled medical care. The type of care will determine the hourly rate and the overall cost of paying for home care.
A viatical settlement is when you sell a life insurance policy to a third party for a cash benefit. This type of life settlement used to be used only when there was a life-threatening circumstance such as terminal cancer or other terminal diagnosis. Understanding Viatical Settlement Companies is vital when looking into the Viatical Settlement option.
To date, there has been very little federal life settlement regulation, and only 8 states remain unregulated and have not adopted one of the two models – NAIC or NCOIL. The lack of federal licensing requirements and life settlement regulations may discourage owners of life insurance from considering life settlements as they are unsure as to which life settlement provider to trust. Owners currently have to rely on brokers or their own research to protect themselves in determining which life settlement companies are legitimate or not.