If you no longer need the life insurance you purchased, or if the premiums on your life insurance policy have become too expensive, you owe it to yourself (and your family) to have your policy appraised as Reverse Life Insurance.
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.
The cost of long term health care is rising; making it essential that seniors protect themselves. But how? If you are worried that the costs of long term care may eat away at your life savings you may consider a long term care insurance policy, but is long term care insurance really the solution?
A life settlement broker operates as an intermediary between the seller and buyer of a life insurance policy called a life settlement. Ideally, a life settlement broker will be protecting the interests of the life insurance policy seller/owner, whereas the buyer will be interested in the life settlement as an investment. A life settlement broker will take a percentage from the offer given to the seller.
In the mid 1980’s, Anna decided to pack up her belongings, including two children, and move in with a sibling. Although the move did her very good, there was no denying that she suffered from severe mental issues. She did, however, do her best to treat these issues, including through the help of licensed physicians and through self medication. Unfortunately though, her mental illnesses continued to worsen. Even after moving several more times, Anna could never find peace, and her mental problems only aggravated her already frail state. As you’ll see, if she had trouble paying for assisted living, it may have cost her her life.
What happens when life insurance premiums become too expensive, or when a person determines that life insurance is no longer necessary, and wishes to be free of the additional monthly expense? Too often, people let their insurance policies lapse, losing years of monthly premium payments that they have paid. But don’t worry, there are ways to get the most cash for your life insurance policy.
When considering long-term and aging care needs, one of the first places to look is at any life insurance policies the individual may hold. While you may be interested in selling your life insurance policy, there may be questions about whether or not a universal life insurance policy will qualify for a life settlement. Here’s what you need to know
An AARP report published in July of 2015, shed light on the growing need for caregivers in the United States. Valuing the Invaluable discusses the costs to the children and families of the elderly and disabled who need in home care for assistance with the daily activities and chores that most of us take for granted.
“Can I sell my life insurance policy?” is a common question among Seniors. You may not have realized that it is possible to sell your life insurance policy for cash. If you have a life insurance policy that is under performing, that you can no longer afford, or simply isn’t right for your circumstances anymore- you still have options.
John chose a Retain A Portion Settlement once his life insurance premiums became unaffordable.