There are three places people lean on for income during retirement. This includes pensions, assets and Social Security. That said, about one-third of Americans currently draw income from pensions and only a little more than half gain income from assets. Taking these stats into consideration means that half of all Americans retirement income is in
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Health care costs are constantly on the rise. According to AARP, the average cost of medical expenses for an American couple over the age of 65 is $240,000. That amount is astronomical to a retired couple living on fixed retirement incomes and heavily dependent on social security. A life settlement could provide immediate financial relief.
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Life settlements, the sale of life policies in exchange for cash payouts, are an extremely viable option that have saved many senior citizens from lapsing policies and unexpected financial strain. Many financial advisors are still; however, not educating their clients on the subject. No one wins in this scenario as the financial advisor loses out
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There are 3 main reasons that policyholders choose to sell their life insurance. The sale is done through a life settlement where the buyer assumes ownership of the policy and the seller receives a cash payout. The buyer takes responsibility for paying premiums and receives the death benefits when the seller passes. When a person
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Individuals generally buy life insurance in order to provide their family members a sum of money after they die. That money can help cover funeral costs, be used towards outstanding debt, or simply give financial relief to the recipients. With life settlements; however, the policyholder does not have to die in order to collect that
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Before the emergence of the life settlement market, policyholders were very limited in what they could do with their policies should they become unaffordable or simply unnecessary. There were initially only three options; to sell the policy back to the broker for a small percentage of the original cost, to keep the undesired policy, or
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  Thousands of baby boomers are retiring by the second, but how many of them saved accordingly for the high cost of retirement? Even with careful planning, unfortunately; many retired seniors wind up unable to afford their bills and life insurance premiums. Regardless of not having the ability to pay the premiums, clients are reluctant
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No denying it, long term health care is expensive. Medicaid only pays a portion of those bills and if you are a child assisting your parents in paying the remaining amount, the costs could be extremely overwhelming and perhaps even unaffordable. If you require additional funds to make those payments, you should be aware that
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Financial advisors who become aware of the life settlement market may be tempted to start marketing their services to the mass population, but the smartest option may be to start looking at the clients you already serve. Marketing efforts are expensive and time consuming, so advisors should identify clients from within. Do you have any
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No matter how much someone plans for retirement, if the need for long term care arises, it’s very possible that a person’s savings just won’t cut it. Approximately 12 million Americans currently require long term health care and statistics show that about 70% of seniors 65 and up will need the care eventually. At an
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