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Senior living facilities provide independence and peace of mind while empowering you to live comfortably with access to help when needed. However, the cost of these facilities is increasing rapidly. With this increase comes more pressing concerns for older adults and their families as they navigate funding. Whether you plan to use private financing, long-term care insurance, or funds from selling your life insurance policy, it is necessary to understand the factors contributing to this increase and how they may impact your situation. This knowledge will help you navigate the various options ..read more

Life Settlements are paid to policy owners by a third party who agreed to buy the life insurance policy. The payouts are typically cash lump sums paid after the Life Settlement process is completed. Life Settlements Explained Situations change — a policy owner may have taken life insurance to provide a payout when they pass away, and the dependents may have grown up and no longer need the death benefit. An insured may also no longer want to pay premiums, so a Life Settlement may be a lucrative option.  A Life Settlement is the sale of an insured’s insurance policy for a cash payment. It ..read more

An ideal Life Settlement candidate is someone over 65 with a life insurance policy valued at $100,000 or more. In addition, the insured may have had a change in health or circumstances, and may no longer want to pay life insurance premiums.  Life Settlement Requirements Many older adults may be suitable candidates for Life Settlement, but there are local and state laws that the insured must adhere to. Besides the Life Settlement age requirements, there are a few other qualifying criteria: Policy type: Only some policies are eligible for sale. Most third-party buyers pref ..read more

Selling your life insurance policy through a Life Settlement gives you access to funds that can alleviate financial pressure. Life Settlement value depends on three primary facets — the premiums you have already paid, your policy’s value, and your life expectancy. A longer life expectancy is less appealing to buyers as they will wait longer to capitalize on their investment. While this does not mean you cannot sell your life insurance policy with a longer life expectancy, it may just mean your offers are lower. Understanding how life expectancy and other influencing factors impact the value ..read more

A life insurance policy offers your loved ones a financial safety net at the end of your life. Missing a premium payment and lapsing your life insurance policy may terminate your coverage completely. A lapsed policy creates a ripple effect as it takes away the financial support you have built by investing every month. Reinstating your policy can be costly, with higher premiums and a reduced death benefit. Sometimes, you forfeit any cash value accumulated up to this point. If you anticipate missing a policy payment, several options can allow you to access a portion of your investment early or ..read more

Your life insurance policy is so much more than a financial tool to support loved ones after your passing. It also offers security during challenging times ahead and a means to gain capital when you need it most. While it is a good idea to consider multiple offers and look into alternative options, it is also imperative that you fully understand the process of how to sell your life insurance with a terminal illness. If you want to sell your life insurance policy, consult with financial and legal professionals who can offer guidance and support. However, it is still important that you underst ..read more

The financial responsibilities accompanying chemotherapy treatments can be overwhelming, with substantial expenses arising whether you have a health care plan or not. Despite these challenges, you can pay for chemotherapy in a few different ways. From government assistance to clever budgeting and looking into your insurance options, these strategies can help you understand the budgetary requirements of your treatment plan while allowing you to focus on your health. What Does Chemotherapy Entail? Chemotherapy is administered intravenously, orally or through a combination of both. This treatme ..read more

You can sell a term life insurance policy for cash through a Life Settlement. Most term policies that undergo this process are convertible term policies. However, you may have sale options without converting your policy or purchasing a rider for later conversion. Whether you need a lump sum as soon as possible or want to make the most of your term life insurance, you should understand the options available and the processes involved so you can make a wise financial decision with clarity and confidence. Understanding Term Life Insurance Term life insurance or temporary insurance meets a provi ..read more

Yes, you can sell a whole life insurance policy through a transaction called a Life Settlement. However, there is more to the process than a simple sale. You need to understand the nuances of your life insurance policy and ensure it meets specific sales criteria. You should also know what your alternatives to selling are and the steps that lie ahead if you do choose to sell. Why Sell Your Whole Life Insurance Policy? The need to sell a whole life insurance policy is often driven by financial circumstances or life changes that impact the need for a policy. Common reasons for wanting to sell in ..read more