A life settlement is defined as a transaction in which the owner of a life insurance policy sells the policy to a third party in exchange for a cash payment. According to Study.com, the amount a policyholder can receive from selling a policy will likely fall somewhere between its cash surrender value and the death Read more >>
Older Americans today have many excellent reasons to pursue the sale of a life insurance policy in a life settlement, but one of the most prevalent reasons is the continuous cost of paying premiums. And for those maintaining a universal life policy, a recent Wall Street Journal article links these higher premiums to a historic Read more >>
When systems are operating at their peak efficiency in conjunction with talented, dedicated people, the big winners are the consumers. The life settlement industry is demonstrating this principle perfectly as it moves into a season of new technological innovation to streamline the settlement process. Two cutting-edge developments in particular, robotic process automation (RPA) and artificial Read more >>
At the time when an individual consults with his family and purchases a life insurance policy, he is often doing the wisest thing possible to protect his loved ones. But the reality is that the necessity of life insurance can diminish over time, especially as the circumstances of the beneficiary change or the premiums become Read more >>
If you will have debts to pay off or loved ones to care for if something happens to you, then you probably need to carry some form of life insurance. Life insurance is a legal contract between the policy owner, the insured (who is also often the policy owner), the insurance carrier and the beneficiary. Read more >>
We often cite the US Supreme Court case of Grigsby v. Russell as one of the central tenets of the life settlement industry. It is invoked whenever anyone questions the seemingly peculiar idea of selling a life insurance policy. It is the fundamental reason we are able to help people realize the benefit of an Read more >>
For seniors facing mounting healthcare bills and other unexpected retirement expenses, the idea of hidden cash is attractive indeed. But short of a winning lottery ticket or a mythical money tree in the backyard, where would those hidden funds come from? The surprising answer: from an life insurance policy. Despite increasing marketing efforts from life Read more >>
A modified endowment contract (MEC) is the federal government’s classification for a life insurance contract whose premiums have surpassed legislated limits. MECs can have useful tax implications for estate planning, but they can also present a pitfall for life insurance policyholders who find themselves inadvertently holding one. Thus, it is imperative for anyone paying life Read more >>
Estate planning attorneys often help navigate the technicalities of the tax code. On the back end of this planning, lawyers may be well served to make clients aware of the benefits of a life settlement transaction. Often universal life insurance is sold to solve an estate tax issue. If a client has a significant estate Read more >>
In this era of Uber, crowdsourcing and customized television streaming, many seniors are also opting to eliminate the middleman for certain big financial decisions. A relationship with a trusted advisor can be incredibly valuable, but consumers who are considering a life settlement might save money and time by arranging the sale of their insurance policy Read more >>
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