A life insurance payout happens when the beneficiary of a life insurance policy files a claim to receive the payout value of the insurance policy. No one who purchases a life insurance policy knows exactly how the policy will ultimately play out, but the most anticipated outcome is a payout to the policy’s beneficiary. Since Read more >>
According to the Insurance Studies Institute, 90 percent of seniors would consider a life settlement if they had more information about the option. More than half a million life insurance policies are allowed to lapse each year, and many of those policyholders might have qualified to receive a payoff in a life settlement. But what Read more >>
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 >>
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 >>
A beneficiary is someone listed on a life insurance policy to get the proceeds if the insured individual were to pass away. The proceeds from life insurance typically come as a lump sum payment known as a death benefit. The beneficiary you choose on your life insurance is very, very important. Even if you put Read more >>
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