5 Risks Financial Challenges for Seniors to Consider Policy Appraisals and Life Settlements
Policy Appraisal Blog
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1y ago
Growing older can be a joyful, graceful period of life, especially when the fruits of one’s labor can finally be picked and savored. For many, the ultimate goal is the dream of riding off into the sunset of retirement and relaxation. However, that dream can quickly spiral out of control into a financial nightmare. The reason? Seniors are surrounded by financial risk caused by seismic shifts in the globalized economy, the rapid advancement of technology, the proliferation of bad actors, a ..read more
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Life Settlements Thrive Despite Recent Economic Challenges
Policy Appraisal Blog
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1y ago
With consumer concerns impacting both the amount and number of life settlements in 2021, the global economic environment has shifted to a heightened state of inflation and rising interest rates that could result in a recession. The report forecasts an average annual volume of new life settlements of $5.2 billion for 2022 - 2031, driven by the strong demand from investors for alternative assets and the development of a direct-to-consumer market. Such markets are becoming increasingly popular as ..read more
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Understanding the Tax Rules for Life Settlement Proceeds in 2023
Policy Appraisal Blog
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1y ago
Tax season is fast approaching, which is why it's essential to understand how the proceeds of a life settlement are taxed. Not all life settlements are the same, as the amount of tax you will need to pay on a settlement can vary significantly for many reasons. Reaching out to a tax expert or an experienced accountant is always a good idea to better understand the tax implications of a life settlement. Here are a few things to consider for a life settlement: Don't Let a Policy Lapse One common ..read more
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Know your Fiduciary Responsibility and Life Settlements
Policy Appraisal Blog
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1y ago
Many Americans are taking a much closer look at their retirement plans due to the potential for a recession. Advisors should play an active role in offering valuable guidance during these uncertain times. Current retirees are especially vulnerable to a downturn, as many live on a fixed income that isn't always enough due to recent price increases. While life settlements have been around for a long time, they remain an under-used source of funds for eligible seniors. A few common misconceptions ..read more
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Life Insurance Policy Valuation as a Client Service for Financial Professionals
Policy Appraisal Blog
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1y ago
Wealth managers play a crucial role in helping clients make financial decisions while also assisting in managing other vital assets. A wealth management advisor can even use life insurance as another way to help clients manage their finances. These financial advisors are trained to understand the actual value of a life insurance policy while determining if it makes sense for a client to consider a life settlement. What is the Purpose of Wealth Management? A wealth manager provides detailed fin ..read more
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What Is the Secondary Market for Life Insurance Policies?
Policy Appraisal Blog
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2y ago
The secondary market for life insurance policies makes it possible for people who need to quickly create liquidity to cover expenses to sell a life insurance policy for cash. Unfortunately, even those who sell life insurance may not be aware of its existence, and far too many financial advisors don't realize its potential. Read on to get the facts about the secondary life insurance market. Primary vs. Secondary Market for Life Insurance Policies In the life insurance industry, the primary mark ..read more
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Excess Deaths in 2020, 2021, 2022 and Life Insurance Actuarial Science
Policy Appraisal Blog
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2y ago
Life insurance companies globally paid out $5.5 billion in claims related to COVID-19 throughout the first nine months of 2021 while paying out $3.5 billion for the entire year of 2020. Many in the insurance industry expected lower payouts due to the availability of vaccines. However, the death increase was primarily due to the Delta variant, which is twice as transmissible as the original strain. Life insurance claims increased the most in the United States, South Africa, and India due to the d ..read more
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Financial Advisors - When Markets Are in Turmoil, New Evaluations are Vital
Policy Appraisal Blog
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2y ago
Dealing with stock market turmoil is often unsettling, especially if your clients plan for retirement. However, life insurance coverage can play a crucial role for anyone planning to retire. Periodically reviewing the life insurance policies of your clients can help you determine if everything is on track or if you need to adjust their policy. You will also need to review their policy due to various life events to ensure your clients will reach their long-term financial goals, even amid stock ma ..read more
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Millennials Depending on Boomer Parents for Financial Assistance
Policy Appraisal Blog
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2y ago
The skyrocketing prices of houses across the country are making it difficult for millennial first-time home buyers. Saving up enough money for home buying isn't easy for most millennials, as many need financial assistance from their baby boomer parents. The high demand for new homes and the limited supply force many kids of the baby boomer generation to purchase homes much later in life. The millennial generation isn't only becoming homeowners much later, but they often turn to others more ofte ..read more
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Life Settlement Market and Economic Fallout from the Global Shutdown
Policy Appraisal Blog
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2y ago
Nearly 13 years ago, the life settlement market underwent a massive shift due to the 2008 financial crisis. Medical underwriters modified actuarial assumptions, and the financial crisis resulted in a convergence of events that massively impacted portfolios and caused investors to remain wary of the asset class. However, today's stock market valuations are reaching near-record levels, and real bond yields are below zero. On the other hand, the asset class can deliver high single or even low doub ..read more
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