Senior Living
The Cost of Aging and Planning for Increased Healthcare Expenses
Learn about options that can help you such as maximizing your retirement savings contributions, opening an HSA account, long term care insurance, and life settlements.
Senior Living
Learn about options that can help you such as maximizing your retirement savings contributions, opening an HSA account, long term care insurance, and life settlements.
Sell your life insurance policy
Life insurance isn’t always for life. In fact, in 2018, 92% of policies that came to an end did so without paying a benefit.
Scammers target seniors every day, assuming that they have money and are vulnerable to scam tactics. Many common scams are used but if you are armed with knowledge you can recognize and avoid them.
Life settlements offer retirees a way to convert their life insurance into cash, providing a financial lifeline during economic challenges. By selling their policy, retirees can generate income, reduce expenses, and bolster their financial stability amid inflation and other financial pressures.
If you’re considering cashing in your life insurance policy, a life settlement could provide you with a significant cash payout, often averaging between 5% and 25% of the policy’s face value, and as high at 60% or more in some cases.
A life settlement can help you turn a universal life policy that has outlived its usefulness into a substantial cash windfall that can help you get the most out of your retirement. Understanding the life settlement process can help you choose your best course of action.
In this article, we’ll explore why health changes make life settlements more viable. We’ll also look at how a life settlement may allow you to navigate unexpected healthcare costs and long-term care expenses.