Planning to surrender and wanted to maximize their options. Mike and Sharon knew the reason they purchased their life insurance policy no longer existed. Their children were self-sufficient, and they were enjoying their retirement years. When they approached their insurance planner about surrendering the policy, she asked if they would be interested in another option. […]
What is the big deal with big data? The overwhelming amount of data now available, and the progressively complicated technology that comes with it, have not only transformed our lives, but also the way industries function and compete. That can mean massive changes for the way advisors interact with their clients. With over 2.5 […]
Senior life insurance policy owners are rapidly lapsing or surrendering their policies for minimal value causing them to throw away decades of premiums.
One of the many questions that financial advisors often get about selling one’s life insurance has to do with the difference between viatical settlements and life settlements. There’s a lot of confusion about these two transactions. To help clear up that confusion, here’s a brief explanation of viatical vs. life settlements.
Average life expectancy in the US took a drastic 1-year plunge during the first half of 2020 due to Covid-19. Historically, overall life expectancy has dropped only 3 times since 1860 attributable to the Civil War, the First World War, and the Spanish Flu epidemic. According to the CDC, heart disease and cancer have long […]
Making the shift from working life, to retirement life, can be a shock for even the most confident retirees. Even if you have saved your entire working life, financial stress can still creep up. Fortunately, there are many relatively easy ways that retirees - and near-retirees - can improve their finances.
What is a life settlement? A life settlement is the sale of an existing life insurance policy to an institutional buyer for an amount greater than the cash surrender value and less than the death benefit. A life settlement provides a lucrative alternative to lapsing or surrendering the policy.
According to a research study from the Consumer Bankruptcy Project, the rate of seniors facing bankruptcy has surged five-times-over since 1991. This spike exceeds the demographic shift for the aging population. The report analyzed data across states from bankruptcy court records and written questionnaires, revealing that about 12.2 percent of annual bankruptcy filings are from […]
As a financial professional, your job is to protect your clients’ best interests. Safeguarding assets, evaluating investment options, and advising on savings goals are part of being a financial professional. But senior clients have a unique set of financial vulnerabilities, many of which require a good deal of tact and sensitivity when addressing. Here are […]
With longevity increasing, the state of retirement evolving, and healthcare costs rising, more and more seniors need a financial advisor’s professional guidance. So much has changed since today’s seniors’ parents were facing retirement.
