If your bills are piling up on you and you need to get your hands on some cash immediately, then cashing in your life insurance policy may be an option. This would generally only work with some form of cash value policy, such as a whole life or universal life policy or even a variable Read more >>
An inforce illustration projects the current costs of your life insurance policy from lapsing. Every year more seniors realize the benefit of exploring a life settlement to get an immediate benefit from an unneeded life insurance policy. As settlements become a more popular option, consumers are realizing that they can investigate and enter into life Read more >>
While many consumers consider life insurance to be one of the staples of their personal finances, many of them tend to overlook the risk of becoming unable to work for an extended period of time. This is unfortunate, because statistics show that it is several times more likely that someone will become disabled for a Read more >>
A life settlement is the sale of an inforce life insurance policy for a market value return. Policyholders receive more than the cash surrender value of their policy but less than the death benefit at maturity. The market value depends on the age and health condition of the insured, but often is in the range Read more >>
Newest Texas Bill Passed Requires More Transparency From Life Insurance Companies Life insurance consumers and each Life Insurance Company may be better informed of changes in their premiums if a bill passed unanimously by the Texas House of Representatives this spring becomes law. Texas House Bill 207 sets new disclosure standards for certain types of Read more >>
When someone takes out a life insurance policy in their ‘30s, ‘40s or ‘50s, that purchase is predicated on assumptions about the future of the policyholder’s family. But unexpected changes to the family structure can occur over the years, and for seniors those changes might lead to the consideration of a life settlement. Insurance For Read more >>
Years before he joined the life settlement industry, Magna’s Senior Vice President Clay Gibson was impacted by his grandfather’s decision to sell his life insurance policy. In a personal essay, Clay shares how his grandfather’s life settlement made an impact on his family. “My grandfather was in his late ‘70s in 2002 and even though Read more >>
It’s not entirely realistic to expect that consumers have a thorough understanding of every decision they make; for instance, a heart surgeon doesn’t need to explain every technical aspect of a procedure before a patient agrees to it. But when it comes to life insurance, transparency is a reasonable expectation. With a host of different Read more >>
Planning for your retirement or calculating your retirement score can be a daunting experience. There is so much to think about, especially the amount of money you need in order to retire comfortably. Generally, the rule of thumb is that the money you may need when you ultimately retire should fall somewhere between 70 to Read more >>
Many seniors who are informed about life settlements view the sale of their life insurance policies as an all-or-nothing proposition, but policies don’t actually need to be sold in totality. In some cases, a Retained Death Benefit (RDB) offer might better serve the needs of both retirees and their family. The reasons for entering into Read more >>
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