LISA Endorses Senior Health Planning Account Act
The Life Insurance Settlement Association (LISA) announced this week that it would endorse House Resolution (H.R.) 5958, also known as the Senior Health Planning Account Act. H.R. 5958 Representatives Brian Higgins (a New York Democrat) and Gregory Steube (a Florida Republican) introduced H.R. 5958 to Congress in late February. If adopted, the bill would create […]
Can I Borrow from My Life Insurance Policy?
Table of Contents: Borrowing Basics The Perks of Policy Loans Drawbacks to Consider Life insurance can be a lifesaver for those who want to provide money for their families after they’ve passed away. Although it’s an indisputably helpful tool, insurance policies aren’t always easy to comprehend. In fact, of the 60 percent of American adults […]
Financial Planning for Seniors on Medicare
Table of Contents: Understanding Your Medicare Options Weighing the Pros and Cons 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 […]
When Should You Consider Survivorship Insurance?
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. […]
Finding Financial Relief After a Cancer Diagnosis
Table of Contents: The Physical and Financial Impact of Cancer Leveraging Assets to Pay for Treatment Combating cancer can be one of the most difficult challenges of a person’s life, and it is one that requires a great deal of mental, emotional and financial fortitude. Beyond the physical hurdles and side effects that coincide with […]
Alternatives to Lapsing an Underperforming Life Insurance Policy
When you purchased your life insurance policy, it was probably a wise investment. Perhaps you had just gotten hitched, bought a new home or welcomed your first child into the family. These are all great reasons to capitalize on the safety, security and peace of mind a life insurance policy can bring. However, as you […]
To Buy or Not to Buy: When Should I Consider Life Insurance?
Table of Contents: What to Know About Different Policy Options When to Start Shopping Around Life insurance promises peace of mind to policyholders and beneficiaries alike, and with the right plan in place, you can help provide for your loved ones even after you’re gone. The decision to purchase a life insurance policy is one […]
The Rising Cost of Elder Care
Subtle shifts (and a few not-so-subtle transformations) are likely to take place as you get older, several of which will inevitably impact your overall quality of life. Everything from your health to the status of your social relationships can have an effect on your mental and physical wellbeing, and your personal finances are no different. […]
Why Are My Universal Life Insurance Premiums Skyrocketing?
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 […]
Common Life Settlement Myths Debunked
Table of Contents: Myth: Life Settlements Are Only for the Terminally Ill Myth: Seniors Put Themselves at Risk by Purchasing Life Insurance Myth: Only Very Large Policies Qualify Myth: Policyholders Have to Sell Their Entire Policy For years, life settlements flew under the radar as unknown and untapped sources of financial support available to seniors […]
Understanding Your Life Insurance Policy's Value on the Secondary Market
Many life insurance policyholders reach a point when they no longer wish to maintain their policy. There are often several factors that influence a person’s decision to sell their policy and pursue other options. For example, lots of people find it difficult to afford their monthly or annual premiums, especially if those payments increase over […]
Understanding Different Types of Life Insurance
Table of Contents: What to Know About Term Life Insurance Permanent Life Policies and How They Work Shopping for a life insurance policy can be a daunting task if you haven’t done your research. Although the insurance world can be a tricky one to navigate at times, learning the basic concepts and terminology is half […]
It's All About Timing: When Should You Sell Your Life Insurance Policy?
Table of Contents: One of the most crucial factors affecting your life settlement payout is your age. Seniors with no beneficiaries or dependents have a lot to gain from a life settlement. Thanks to advancements in modern medicine, people are living longer than ever before. In fact, the United States alone is home to almost […]
Why Some Life Insurance Policies Work for Life Settlements and Others Don't
Table of Contents: Your Age and Health Status Play a Key Role Size Matters When Conversion Deadlines Come Into Play When Premium Payments Get Too Expensive For seniors who no longer want or need their life insurance policy, a life settlement can be an enticing alternative to letting the policy lapse or surrendering it back […]
Life Settlements 101: A Beginner's Guide
Table of Contents: How Life Settlements Work Why Sell? Who Is an Ideal Candidate 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 […]