What is Reverse Life Insurance?
Traditional life insurance has been around for at least a hundred years. But a new twist on life insurance is making its way into the mainstream life insurance marketplace today. A reverse life insurance sale allows policyholders to convert their life insurance policies into a lump sum of cash upfront provided that they meet certain […]
How to Sell Your Whole Life Insurance Policy: A Guide
There are several ways that you can draw money out of a whole life insurance policy. But some ways are better than others, depending upon your circumstances and how soon you need to get your hands on the cash. The amount of cash that you can get is also dependent upon several different variables. But […]
Viatical Settlement Taxation: The Complete Guide
Viatical settlements can be a godsend for terminally ill patients who need cash immediately to pay for medical bills or other forms of managed care. It can also help insureds by removing the cost of insurance from their budgets. However, these transactions can be complicated, and viatical settlement taxation can be difficult to compute in […]
How to Use Life Insurance To Pay Off Debt
Many households in the United States today have large amounts of debt. The types of debt are varied – student loans, car loans, high interest rate personal loans, mortgages, credit card debt, and outstanding lines of credit can be enough to financially suffocate just about anyone. The significant loan debt has a major impact on […]
Should I Surrender My Life Insurance Policy?
It’s estimated that a standard life $500,000 cash value life insurance policy can cost up to $20,000 a year to keep in force. While keeping a life insurance policy active can be a good life decision for many, for others monthly policy premiums may prove to be too big a financial burden. In these cases […]
What Are Senior Life Settlements? A Guide
Senior life settlements are becoming increasingly common as more and more senior citizens are now selling their life insurance policies because they no longer need them, or they need cash quickly to pay for medical or long-term care expenses. This type of transaction has only been around in one form or another for about 30 […]
How To Prevent and Solve A Life Insurance Policy Lapse
If you own a life insurance policy of any kind and you allow it to lapse, you can lose several key benefits that were provided by the policy. If you owned a term insurance policy and just quit making the premium payments because you either could no longer afford them, or decided that you didn’t […]
How to Cash Out Your Life Insurance Policy
If you are one of 25 million Americans over the age of 60 who are economically insecure, cashing out your life insurance policy may be a much-needed financial boost in your life. Depending on the value of the policy, the monthly premiums, and how many years you’ve held it, the cash payout of your policy […]
Pros and Cons of Buying Long-Term Care Insurance
When you plan for retirement, one of your primary concerns is making sure you have enough money saved up to live the lifestyle you want. What you may not account for, however, is the likelihood of needing long term care later in life. In reality, many seniors will need some kind of long-term care at […]
It’s That Giving Time of Year
While you are looking at your holiday shopping list, rather than buying a gift that may or may not be what your family member is looking for, you should consider this – the gift of cash! As an added bonus, giving money to family or friends can also be a smart tax planning move. Even […]