If you’re signing up for life insurance coverage, one of the last but most crucial decisions you’ll need to make as a policyholder is deciding how you want your beneficiary to receive the funds from your death benefit. These are commonly referred to as your “life settlement options.” This decision must be made regardless of whether you have a whole life insurance policy or some other form of life... Source ..read more

In a nutshell, a life insurance settlement transaction is when a life settlement company offers to buy a life insurance policy from a policy owner for a given sum. If the policyowner agrees to the price, then the life settlement company will become the new owner and beneficiary of the policy. The seller receives immediate cash, and the settlement company will then assume the responsibility of... Source ..read more

Are you considering selling your life insurance policy in a life settlement transaction (also sometimes referred to as a life insurance settlement)? If so, it is important as the policyholder to understand the tax consequences of such a policy sale. As with any important financial planning decision that involves taxation, you should consult with your financial advisor, accountant... Source ..read more

The terms “life settlement” and “viatical settlement” are sometimes used interchangeably. However, it’s important to understand that while these types of settlements are quite similar, there are also some key differences between them. If you’re of retirement age and have a life insurance policy in your name, knowing the difference between a life settlement and a viatical settlement can help you... Source ..read more

What is Universal Life Insurance? Universal Life insurance policies are popular life insurance products due to the flexibility, including flexible premiums, they offer the policyholder when compared to other life insurance products. People who choose universal life insurance (over term life insurance or whole life insurance) are typically looking for permanent coverage but also looking to maximize... Source ..read more

Those who take the time to do end-of-life planning can save their heirs a great deal of time and inconvenience. When it comes to end-of-life planning, those who take the time beforehand to do it right can ensure that their assets will pass to their heirs in the manner that they desire, and other end-of-life wishes are fulfilled. In some cases, this can be as simple as adding a beneficiary to each... Source ..read more

If you are at least 65 years old and own a universal life policy, whole life policy, or other type of permanent insurance policy that you no longer want or need, then you may want to consider a life insurance buyout. A life insurance buyout, also referred to as a life settlement transaction, is an important financial decision whereby a policyholder receives a cash payment for their life insurance... Source ..read more

There are many factors that enter into the purchase of a life insurance policy. Beneficiaries must be named, the policy owner must also name the insured, and the policy owner’s budget must be flexible enough to accommodate the premiums that must be paid. But some people overlook another factor that has to be present in every life insurance application. In order for any life policy to be valid... Source ..read more

Back in the early 1990s, long-term care insurance was widely considered to be the darling of the insurance industry. Insurers promised their agents and brokers that virtually everyone needed one of these policies, and the benefits that they paid out would keep middle and lower-income policyholders from having to rely solely on Medicare or try to qualify for Medicaid. The median cost for a year of... Source ..read more

Traditional life insurance policies allow insureds to financially provide for their beneficiaries if something happens to them and also accomplish various other estate planning functions, such as making charitable gifts or reducing estate taxes. However, one thing always had to happen before the death benefit could be paid out: the insured had to die. The insured could never access the death... Source ..read more