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All About Life Settlement Brokers
Simply put, life settlement brokers work on your behalf to get you the maximum possible price when you’re selling a life insurance policy you no longer need or want.
4 Ways Filial Responsibility Laws Can Affect You
Your folks clothed you, bandaged your skinned knees, and fed you dinner for years. And now, it may be time to return the favor, figuratively anyway. Did you know that some states make it your legal responsibility to support your parents financially? It’s true, and without some proactive planning, you may be at risk of footing the bill for your parents’ high-dollar medical debt.
Indoor Activities for Seniors in Isolation
With the spread of the novel coronavirus or COVID-19, people are being asked to practice social distancing and to stay at home to help staunch the transmission of the disease. Transmission of COVID-19 happens person to person and, therefore, it’s essential that we practice social distancing and isolation especially for those who are elderly or have compromised immune systems.
How the Coronavirus Affects Life Insurance Policies
Yes, toilet paper is hard to come by and there’s no telling when you’ll be able to eat in a restaurant again. But the pandemic is also causing economic turmoil, driving changes in the stock markets, interest rates, and the insurance industry. Obviously, your portfolio has been hit hard by the turbulent financial markets. As well, your life insurance policy — or the prospect of getting one — may look very different as the U.S. pandemic response evolves.
What is Long-Term Care Insurance and Is It Worth It?
When you start shopping for long-term care insurance, you’ll realize quickly that it’s pricey and complicated. And that can leave you wondering whether this form of coverage is worth it. Unfortunately, there’s no short answer to that question. Long-term care insurance can add value in certain situations, depending on the coverage, as well as your net worth, your age, and your health history. Before you can fully evaluate how long-term health insurance would fit into your life, though, it’s wise to master the basics of how this coverage works.
Do I Need an Elder Law Attorney?
You wouldn’t hire an accountant to fix your car, or a mechanic to prepare your tax returns. By the same token, a general practice attorney isn’t the best choice for legal matters involving the seniors in your life. The better choice is an elder law attorney, who specializes in legal issues that arise for seniors and their families.
Life Settlement Calculator
You’ve heard about the possibility of selling a life insurance policy you don’t need or can’t afford, and you’re thinking you could use the cash to pay medical or long-term care bills, or to invest in a more comfortable retirement. But before you take the step of contacting a life settlement company, you’d like to get some idea of how much money you can get for your policy – and whether you’re even eligible to sell it. An online life settlement calculator can provide a quick general assessment of your eligibility to sell your life insurance policy, but it cannot replace the in-depth medical underwriting process required to accurately estimate the value of that policy.
Understanding Insurable Interest in Life Insurance
What do insurable interest and gravity have in common? Both are fundamental concepts that impact our lives daily, and yet we hardly think about either one. Gravity keeps your feet on the ground, and insurable interest underpins every insurance policy you’ve ever owned.
What is Whole Life Insurance?
Whole life insurance, sometimes called “straight life” or “ordinary life,” is a type of permanent life insurance and is the most well-known form of life insurance. Whole life insurance policies last the whole life of the policyholder and are paid out to the policyholder’s beneficiary or beneficiaries upon death provided that premiums are paid. It’s important to note that because whole life insurance lasts throughout the policyholder’s life, premiums are typically higher and cost more than term life insurance. Along with death benefits, whole life insurance also comes with a type of savings called “cash value” and may grow tax-deferred interest.