Q Life Settlements Blog
March 13, 2020
The Federal Reserve Board reports that only 40% of Americans can cover an unexpected $400 expense, proving just how challenging saving has become for many Americans. Unfortunately, in terms of retirement, saving is the name of the game. See five mistakes that can be avoided!
February 28, 2020
Entering into your retirement years is a time that many (if not all) people reassess their assets and financial plans in order to ensure our golden years are secure. All too often, during that review a life insurance policy starts to look more like a liability given the typical life changes (the family is grown, the mortgage is on track or even paid off) at this stage in life. This is especially true when the likelihood of increasing life insurance premiums and healthcare costs looming on the horizon are considered. But here are five compelling reasons to keep that life policy in-force, when possible:
February 15, 2020
New data from the Department of Health and Human Services shows that in 2018 there were over 282,000 cases of elder abuse reported. Among the types of abuse reported were neglect (37,677 cases), financial exploitation (33,685 cases), emotional abuse (25,321 cases), physical abuse (20,406 cases), and “other” (17,606); but the largest category unfortunately was self-neglect which eclipsed the preceding five categories combined at 144,296 cases reported. This startling figure has been on the rise in recent years, and these were only the cases which were reported.
February 1, 2020
BuzzFeed News reports that data from the National Center for Health Statistics shows an increase in life expectancy to age 78.7 last year, the first increase in US life expectancy since 2014. Federal health officials believe the increase in life expectancy is a result of lower heart disease and cancer death rates, and a 4% decrease in drug overdose deaths. The latter is notable as it was the first time drug overdose deaths decreased in 28 years.
January 6, 2020
With 2019 behind us, we have some new data at hand regarding health care for US retirees. While it isn’t all great, we did see one trend that will be good news to seniors.
Fidelity Investments’ report Health Care Price Check found that in 2019, a 65 year-old couple entering retirement can expect to cover $285,000 ($150,000 for women and $135,000 for men) in out of pocket medical expenses throughout their retirement years. The good news is that while it is an increase over the previous year (up 3.6%), it was a much smaller increase than that of 2015-2017 (up 12.2%).
December 21, 2019
Even the best retirement plans can be overturned by unexpected out of pocket costs during our golden years. Two of the biggest problems that can arise are an unplanned long term care need of the retiree, and providing for the unplanned care needs of a loved one. Recent studies shine some light on these challenging areas, and the results are startling.
December 9, 2019
A remarkable survey completed by the National Council on Aging (NCOA) shows a troubling trend for retirees’ finances. According to their study, there has been a nearly 45% increase from 1992 to 2016 in the number of households in debt which are headed by an adult age 65 and older. In 1992, the percentage was 41.5% and jumped to 60% in 2016.
November 25, 2019
If you plan on someday moving closer to family or to a more desirable climate to enjoy your golden years, taking out a reverse mortgage on your current home may not be a great option. A reverse mortgage loan becomes due once the borrower moves or passes away, so taking out a loan when you may be in need of cash only to have the loan due as soon as you go to move could be a serious issue.
November 9, 2019
A new survey by Provision Living delves into why many of America’s seniors are working well into their retirement. With over 20% of the US population over age 65 still working (a record!), the survey provides some insight into this development.
October 25, 2019
As more people learn about the value life settlements, there is often confusion about who to reach out to in order to begin a life settlement evaluation. In the life settlement industry, there are two main types of life settlement companies: brokers and providers. A life settlement transaction is regulated at the state level, and most states require that a life settlement transaction goes through a licensed life settlement provider. In some cases (especially cases which involve larger life insurance policies), the policy holder may choose to involve a licensed life settlement broker as well. But what is the difference between the two, and which should you choose to work with?