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How a Life Settlement Can Help Your Business Clients

January 25,17 | 10:10 pm


Life settlements can be of huge help to seniors who are struggling to pay their life insurance premiums or need to cover the costs of long-term care. Indeed, these are the people whom the life settlement market most often serves.

However, it’s not just individuals who can benefit from selling their life insurance on the secondary market. Businesses that carry key person insurance can also take advantage of life settlements in certain situations. In fact, a life settlement can sometimes help cover the costs associated with a transition or succession plan.

Take a look at these scenarios to learn more about when and how a life settlement might be appropriate for your business clients.

One important thing to note is that a business’s life insurance policies are subject to the same criteria as individual policies when it comes to qualifying for a life settlement solution. It’s important to check with an experienced life settlement broker, who can give you a good idea if the policy might qualify, before spending much time pursuing this option.  Continue reading

Why You Should Discuss a Life Settlement with Your Client in 2017

January 18,17 | 4:05 pm

The end of one year and the beginning of another is a time of reflection and change – a time when we consider what we’ve accomplished in the past year, and set goals for the one to come.

This is as true in a financial advisor’s office as it is anywhere else. After all, the most popular New Year’s resolutions of any given year always have to do with either losing weight or improving financial security. And while you probably can’t help your clients too much with that first goal, you have a lot to offer when it comes to the second one.  Continue reading

New Year’s Resolutions for Financial Advisors

December 30,16 | 5:54 am

new-years-resolutionsHow are you going to make 2017 an even better year for you and your practice than 2016 was? Are you going to expand your client services? Educate yourself about a new financial area? Work harder at bringing in clients of multiple generations?

There’s no better way to lay out your plans for the year than by making a good, old-fashioned New Year’s resolution. Here are a few for 2017 that you might want to consider. Continue reading

3 Major Ways Divorce Can Affect Your Retirement

December 16,16 | 4:17 pm

divorce-waysDivorce rates are on the rise – but not among younger couples, as one might expect.

Instead, it’s couples ages 50 and over who are divorcing at higher rates. In fact, one study from Bowling Green State University, published in The Journals of Gerontology, found that divorce rates doubled for people over age 50 between 1990 and 2010.

There are three reasons for this, according to the study. One is that a higher number of seniors are in second or third marriages, and remarriages are more likely to end in divorce than first marriages. Continue reading

3 Ways to Build Trust with Reticent Clients

November 29,16 | 9:46 am

reticent-clientsTrust is a vital element of any business relationship, but in financial advising, it’s absolutely essential. Your clients are giving you influence over one of the most important parts of their lives: their finances.

The stakes are high. As we all know, following bad or unscrupulous financial advice can lead to ruin, and clients are acutely aware of this – especially having witnessed the fallout of the Great Recession. Continue reading

3 More Ways to Pay for Long-Term Care

November 23,16 | 3:28 am

If you’re not prepared, paying for long-term care can be one of the most stressful financial burdens many adults face in their golden years. With costs running into the tens of thousands of dollars per year, and only increasing, long-term care requires thoughtful financial planning.

Thankfully, there are several options for paying these costs, as we outlined in our post “3 Ways to Cover the Costs of Long-Term Care.” Here are 3 more ways to cover the costs of long-term care.

Continue reading

5 Ways to Make Better Financial Decisions

November 22,16 | 3:14 am

better-finanacials-decisionsEven those of us who’ve been making financial decisions for decades can stand a little help now and then. This is especially true as we near retirement, when financial discipline becomes more important than ever – even if we’ve saved all the money we think we’ll need. Continue reading

5 Tips for Aging Gracefully

November 10,16 | 9:09 am

We’ve all seen the popular stereotype portrayed of the older generation – the cranky, misanthropic old man – but we’re will to bet there are very few people who actually want to become that person as they age.

Who wants to spend their golden years grumbling about minor inconveniences and being rude to everyone who walks by? Continue reading

Why You Should Review Your Senior Client’s Life Insurance Policy Today

November 03,16 | 8:16 am

dallarsWhen you’re reviewing your client’s assets, what do you take into account? Their house, certainly. Investment and bank accounts. Valuables, like art or jewelry.

But are you including their life insurance policy? You should be.

Although many people, both consumers and those in the financial world, aren’t aware of this fact, a life insurance policy is an asset just like a house or a savings account. As an asset, it can be bought and sold as a life settlement – which can, in certain cases, offer a huge benefit to your senior clients. Continue reading

Balancing Family Obligations with Self-Care During Retirement

November 02,16 | 10:31 am

retirementOne of the many perks of retirement is the chance to spend more time with family. Some retirees even decide to move in order to be closer to children and grandchildren, downsizing their home along the way.

While there’s nothing like the pleasure of being able to watch your grandchildren grow up, retired grandparents may find that their families are eager to take advantage of all the freedom you have now. To prevent any familial rifts or resentments from creeping in, it’s important to make sure that you’re balancing your family’s needs with your own. After all, you’ve spent decades working toward retirement – you should be able to enjoy it on your own terms. Continue reading

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