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 >>
Saving for retirement is a necessity. but beyond the idea of “putting money away for later,” or just creating a budget worksheet, how much do we really know about the actual costs incurred by American seniors? It’s a misconception that spending decreases after retirement; in fact, a study by the Employee Benefit Research Institute shows 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 >>
All over New York you have seen TV commercials, newspaper advertisements, and the Internet are abuzz with life settlement promotions. All this publicity and advertising has come about for good reason. Life insurance settlements has grown into a billion-dollar industry. Its popularity stems from the benefits it supplies to seniors and others who no longer Read more >>
According to a report from Cerulli and Associates, Baby Boomers will transfer approximately $68 trillion in assets to their heirs or charitable organizations in the next quarter century. Most of that money will end up in the hands of Gen Xers, making that generation the wealthiest in the nation by the end of that 25-year 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 >>
The cost of retirement is higher than ever, creating a pressing need for Americans to find ways to prepare financially for retirement as wisely as possible and use their retirement funds well after they stop working. Everyone knows they should prepare for their retirement years so that they can enjoy that season in life rather 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 >>
Insurance Overload is when an insurance policy holder is overwhelmed financially with the cost of premiums – leading to a lapse in their policy. It’s an idea reinforced from the very advent of adulthood: it’s better to have too much insurance than too little. In the case of retirees, over insurance is a very real possibility, Read more >>
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