The Top 3 Investments for Retirees

by Joe Borowiec

Many hardworking adults look forward to the day when they can leave the rat race behind and retire. While retirement offers several perks, it also leads to new challenges. What you gain in free time, for instance, you often lose in income, and this can take a toll on your personal finances.

When the paychecks stop coming in, it’s beneficial to have an investment or two you can lean on for financial stability. Here are a few investments that can help you pad out your retirement savings without taking on undue…

Financial Planning for Seniors on Medicare

by Joe Borowiec

Medicare, the national health insurance program for seniors over the age of 65, is an essential resource for many older adults, and without it, a large portion of the population would suffer from a lack of access to affordable medical care. In 2018 alone,

When Should You Consider Survivorship Insurance?

by Joe Borowiec

Survivorship insurance, also known as joint survivor life insurance or variable survivorship life insurance, covers multiple people under one policy, making it an appealing option for spouses, parents and couples. You may also hear this type of coverage referred to as “second-to-die” insurance because beneficiaries don’t receive the benefit until both insured policyholders pass away.

Survivorship insurance is variable, meaning policyholders benefit from a cash value component in which a portion of each premium payment is put…

How Life Settlements Can Boost Your Portfolio

by Joe Borowiec

As a financial advisor or agent, you’re likely always on the hunt for ways to grow your client portfolio and expand your expertise. Until recently, life settlements were an oft-overlooked source of income for senior clients seeking financial relief.

Getting Ahead of the Curve

One reason life settlements have not been pursued in the past has a lot to do with public perception—or in some cases, misperception. In years past, the industry endured negative press coverage, causing policyholders to regard life…

5 Ways Adult Children Can Help Support Their Elderly Parents

by Joe Borowiec

In childhood, you depended on your parents not only for emotional support, but for sound reasoning and fiscal stability. As your parents near retirement age and walk away from the rat race, they will need you to return the favor, lending a helping hand in medical and financial matters that may be beyond their purview in an ever-demanding and evolving world.   

By providing them with…

Debt Management Strategies for Seniors

by Joe Borowiec

As a senior preparing for retirement, it’s a good idea to plan ahead so you can avoid losing your financial footing. Without a steady paycheck, it can be hard to handle medical bills, housing costs, everyday expenses and existing debt. According to the Survey of Consumer Finances, debt among…

Helping Your Senior Clients Navigate a Health Crisis

by Joe Borowiec

Whether you’re a financial advisor, estate planning attorney or certified public accountant (CPA), as an expert working on behalf of your clients, it’s your duty to provide them with all the information they need to make sound financial decisions. If you work with senior clients, you understand that their needs shift and evolve as they age. Seniors often require assistance navigating these changes so they can make tough judgment calls with confidence. 

What some financial gurus don’t fully understand is the life…

How Baby Boomers Can Make the Most of Their Retirement Funds

by Joe Borowiec

When it comes time to clear off your desk, bid your co-workers farewell and enter the next phase of your life, will you be financially prepared for retirement? According to countless national polls and research studies, many older adults are far…

All for One and One for All: How Life Settlements Help Policyholders and Their Advisors

by Joe Borowiec

All for One and One for All: How Life Settlements Help Policyholders and Their Advisors

By Joe Borowiec

Until recently, many life insurance policyholders were completely unaware of the secondary market where life policies can be bought and sold—a transaction known as a life settlement. Others may have heard of life settlements, but only in a negative context. Years ago, life settlements were commonly considered risky for seniors vulnerable to financial predators. However, laws have since been enacted to augment…

The Basics of Viatical Settlements

by Joe Borowiec

If you suffer from an illness or chronic disease, you likely have a lot of pressing matters on your mind. You may be focused on getting treatment for your condition or arranging your finances and other personal affairs. Perhaps you’re preparing to move from your home to another location, such as a long-term care facility or nursing home.

Whether you’re living independently or under the care of your medical provider, one thing is certain: Healthcare expenses can be costly, and Medicare doesn’t necessarily cover every service or…

Why Are My Universal Life Insurance Premiums Skyrocketing?

by Joe Borowiec

Life insurance certainly has its perks: security, protection and a financially stable future for your loved ones. But all this stability comes at a price, and that price has been steadily climbing for some policyholders for many years. When premiums spike, it can put additional strain on seniors who may already struggle to make their monthly payments.

Several factors contribute to this trend, including changes that have swept the life insurance industry over the past few decades. Seniors who bought their life policies during the 1980s…

Creating a Post-Retirement Checklist for Your Client

by Joe Borowiec

With an average of 10,000 baby boomers turning 65 every day, the sheer number of seniors exiting the workforce and entering their retirement years is growing at a rapid pace. Another more worrisome statistic points to a lack of preparedness for this major life change: Just one in 10 boomers strongly agree…

Life Settlement Timeline: What to Expect and When

by Joe Borowiec

Aging out of the workforce and entering your retirement years can feel both exciting and unnerving—there are life events to plan for, funds to squirrel away for future needs and lots more life to live. This can make planning difficult, especially for those who need help assessing their personal finances or assets. Unsure of what possibilities to prepare for, many seniors never explore the full breadth of their financial options. 

A life settlement, defined as the payment you receive after selling your term, whole or universal…

Educating Your Clients About Their Life Settlement Options

by Joe Borowiec

If there’s one challenge facing financial advisers, life insurance agents and their clients alike, it’s a distinct lack of resources detailing how life settlements work. Without understanding your options—or the options available to your senior clients—it’s impossible to make informed decisions about the future.

To further complicate matters, life settlements fell victim to bad press during the market’s early years when it was still a nascent industry. Myths and misinformation took hold of the public’s perception, and…

Tax Laws and Life Settlements: What Policyholders Need to Know

by Joe Borowiec

Unless you earn a living as a CPA or bookkeeper, you probably find taxes to be a complex, even mystifying part of managing your finances. Survey data indicate that most American adults receive an “F” when it comes to understanding…

Guiding Your Client Through the Life Settlement Process

by Joe Borowiec

The life settlement industry was established over 20 years ago; however, it remains an oft-overlooked piece of the life insurance and investment puzzle. Insurance agents and policyholders alike sometimes struggle to grasp the financial stability life settlements can provide, due primarily to a lack of readily available resources. Although they’ve been around for a while, life settlements have not historically received much attention or public awareness.

Life settlement…

Life Settlements 101: A Beginner's Guide

by Joe Borowiec

If you were tasked with compiling a list of your personal assets, what would be the first things that spring to mind? Chances are, you’d start with your tangible possessions: your house, car, jewelry or antiques. However, intangible items are considered assets, too, including your life insurance policy.

How Life Settlements Work

Just like you can sell your property or your vehicle, you can also sell your life insurance policy.…

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