Life Insurance Archives | Page 4 of 6 | Harbor Life Settlements

What is Cash Surrender Value of Life Insurance?

January 14, 2021 No Comments

The cash surrender value of your life insurance policy is the amount of cash you may withdraw if you surrender your policy to the insurance company. By doing this, you forfeit the right to the death benefit and will no longer have to pay your premiums. This is an alternative to borrowing against your policy, which would keep it in effect and require you to still pay premiums and pay interest on what you borrowed.

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Life Insurance and Life Settlement Statistics for 2025

December 16, 2020 No Comments

Read on for the most important life settlement and life insurance facts and statistics for 2021 — including how many people have life insurance, the average face value of life insurance policies, how life settlement proceeds compare to cash surrender values, and how quickly the life settlement industry is growing.

6 Life Insurance Settlement Options You Should Know

December 16, 2020 No Comments

Life insurance settlement options are notoriously confusing, particularly when you try to compare them. Evaluating a lump-sum payment relative to an annuity, for example, can feel like an “apples-to-oranges” comparison unless you are a trained statistician. Thankfully, you don’t need a knack for number-crunching to identify which settlement option best suits your situation. All you have to do is review this in-depth guide we created to help folks like you make an informed choice about life insurance settlement.

Why Advisors Shouldn’t Neglect Life Insurance as an Asset Class

November 25, 2020 No Comments

As a financial advisor, you tackle the full range of financial situations. You might have one client who’s working to make up for a late start on retirement savings and another who’s tapped out allowed annual 401(k) contributions and needs another tax-deferred account for long-term savings. Both of those clients might rely heavily on traditional assets — equities and fixed income — as the building blocks of their wealth plan. But could the strategic use of life insurance alongside those stocks and bonds enable them to realize their goals faster or with more certainty?

Can Life Insurance Agents Perform Life Settlements?

November 19, 2020 No Comments

If you are a life insurance agent, you’re likely to be an early point of contact for the senior who’s considering letting go of his or her life insurance policy. The logical questions you might receive are, “What are my options?” and “How much can I get if I surrender this coverage?” Those questions give you the opportunity to show that policyholder how to unlock a large sum of cash through a life settlement.

New Survey Finds Knowledge Gaps May Be Costing Life Insurance Policyholders

September 22, 2020 No Comments

More than two-thirds (70%) of Americans carry life insurance. Many of these policyholders are motivated by what life insurance policies do best: securing financial protections for surviving family members. But the life insurance industry has gotten increasingly complex over the last several decades. And while that complexity can benefit policyholders, it has the potential to alienate consumers — leaving them uncertain, first, about the type of life insurance they need, and, later, what they can do with their life insurance once they have it.

How Does Mortgage Protection Life Insurance Work?

August 28, 2020 No Comments

Purchasing your first home is one of life’s major milestones — right up there with graduating from college or getting your first real job. And as with those other big life moves, the home purchase comes with a host of decisions to make. One of those decisions is whether to sign up for the mortgage protection life insurance offered by your home lender.

What is Variable Universal Life (VUL) Insurance?

August 3, 2020 No Comments

Your financial advisor — or maybe a neighbor who sells insurance — may have pitched you on a variable universal life insurance policy. You have questions, and rightfully so. Variable universal life, also known as VUL, is a complex product that isn’t right for everyone. Here’s a closer look at VUL and the role it could play in your finances.

Is Life Insurance a Liquid Asset?

July 20, 2020 No Comments

If you’re nearing retirement and wondering if there’s any way to stop working earlier, or if you’re currently retired and want to ensure you have enough money to live comfortably — it’s important to take a close look at your finances to see if you have any liquid assets. With this in mind, a lot of people wonder if their life insurance policy is considered an asset, and if so, is it a liquid asset?

What is Decreasing Term Life Insurance?

June 25, 2020 No Comments

Decreasing term life insurance features term coverage that reduces in benefits over the life of the policy. The policy’s payout continues to decrease until the end of the designated coverage period, or the policy pays out.

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