An accelerated death benefit (ADB) on a life insurance policy enables the policy owner to receive a portion of the death benefit in the event of being diagnosed with a terminal illness or other life-threatening conditions that reduces your life expectancy to less than two years. But what if are you expected to live beyond […]
Life insurance carriers are raising premiums on universal life products – many by substantial amounts. For a lot of policy owners, these cost of insurance (COI) increases come as a major (and unpleasant) surprise. While certain carriers have been raising rates at a relatively modest rate, others have ratcheted up their premiums by a drastic […]
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.
Life insurance is one of the most valuable assets owned by consumers; however, it is also one of the most misunderstood when it comes to its present asset value. A life settlement is the sale of an existing life insurance policy (an asset) for an amount greater than the cash surrender value, and less than […]
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.
Did you know that life insurance is considered an asset? As such, it has the same legal rights as your other assets - including buying, selling, and appraising. Similar to selling your home, depending on the number of interested parties, offers can be more competitive to drive up value.
