A life settlement can be a valuable source of funds. It is your responsibility to know the hidden value of your life insurance policy before you surrender or lapse. It is possible to sell your life insurance for more cash than the cash surrender value in a life settlement, particularly if you have rising health concerns.
What is the tax basis of a Life settlement and how does this affect life settlement taxation? Changes from the TCJA Act 2017 You should always have your life insurance policy appraised, and yes it is often possible to qualify to sell your life insurance for cash to pay for healthcare or any other needs you may have. […]
Most Advisors rely on a life settlement broker to assist them in the sale of a life insurance policy, but some Advisors work directly with life insurance providers. Unlike with precious metals, stocks or bonds, there is no centralized exchange for Life Settlements. Every situation is unique because life insurance policies have different provisions, […]
Life Insurance Companies in Florida can no longer suppress valuable information from Life Insurance policy owners. The Prohibited Insurance Acts Bill, or HB 1007, now forces Life Insurance companies to allow the disclosure of alternative options available to life insurance policy owners who are considering lapsing, surrendering, or canceling their Life Insurance policy. The […]
Why would you sell your life insurance policy? Well, some studies state that more than 80 percent of life insurance policies never pay out a death benefit, others say as many as 80 percent of life insurance policies never pay out a death benefit. Either way, it’s safe to say that only around 20 percent of […]
How do know who qualifies for a viatical settlement? And what is a viatical settlement? Viatical Settlement: Definition A viatical settlement by definition is “a financial transaction whereby a person with a terminal illness sells their life insurance policy to a third party for less than the face amount of the policy but more than […]
Patients who receive terminal diagnoses often look for financial assistance and solutions to deal with unexpected, serious financial pressure. Travel, treatment, medications, and keeping up with household expenses can be a daunting task. In this article we will discuss financial assistance and solutions for cancer patients. You’re seated in a blue, soft, upholstered chair in your […]
If you are canceling a life insurance policy with a cash value, it is likely that you know what that value is. You pay into your life insurance policy over the years and there’s a cash value element and a cash surrender value element on some policies. In essence that’s the amount of money the insurance […]
Navigating the Life Settlement Market The life settlement market is simply a marketplace of life settlement buyers. Life settlement buyers are looking for life insurance policy owners that may benefit from the possibility of getting cash immediately. If you are a qualified candidate, you may find that selling your life insurance policy to a life […]
Did you know that you can get cash for your life insurance policy? Or have you ever wondered, “Can I cash-in life insurance while I am still alive?” Good news – the answer is yes, and there are several ways to get cash for your life insurance policy. If you suffer from a chronic illness, […]
The viatical settlement industry developed in the 1980’s when people around the world started dying from AIDS. The history of viatical settlements can be traced back to a 1911 Supreme Court decision in Grigsby v. Russell that established that a life insurance policy is an asset.
