MAGNA LIFE BLOG

All About Life Settlements – Your Guide to Life Settlement Policies

In the 1911 U.S. Supreme Court case of Grigsby v. Russell, the Court ruled in favor of Dr. Grigsby after the physician was denied the rights to a life insurance policy that he acquired from a patient in exchange for medical attention. The individual sold Grigsby his policy for $100, and the doctor continued to pay premiums on the policy until the patient’s death.

Unfortunately, Grigsby was denied the benefits of the plan after the patient’s death because the executor of the deceased’s estate deemed the transfer of ownership as an unlawful wager on life, and therefore against public policy. Dr. Grigsby took his claim to the Supreme Court which ultimately ruled in favor of the doctor and affirmed a policyholder’s property interest in a life insurance policy and corresponding right to assign benefits as he or she pleases.

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Life Insurance Policy TOO Expensive – What can you do?

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A life insurance policy is designed to remain in place for decades, providing you and your loved ones with peace of mind. This is because death benefits can provide loved ones with financial support after you pass away. However, your personal finances can change drastically over time, and you may be in a situation where your life insurance premium is no longer affordable for your budget. You could simply cancel your policy in an effort to save money, but a better idea may be to sell it for cash.

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We Heart Austin! – Texas State Capital

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Magna is looking forward to the LISA Spring Conference in May which will be located in Austin! Here is Lyndsey Frahm and her husband at their wedding at the Texas State Capitol. Stay tuned for more of the Magna team and their adventures around the city.

We Heart Austin! – ACL

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Magna is looking forward to the LISA Spring Conference in May which will be located in Austin! Here is Joey McCray spending time at the Austin City Limits festival! Stay tuned for more of the Magna team and their adventures around the city.

We Heart Austin! – Pennybacker Bridge Lookout

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Magna is looking forward to the LISA Spring Conference in May which will be located in Austin! Here is Nate McCormick and his family enjoying the scenery by the 360 Pennybacker Bridge lookout. Stay tuned for more of the Magna team and their adventures around the city.

Are You Coming to Austin?

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We are very excited that the upcoming Spring LISA conference is in our home town of Austin, Texas!

The whole team is thrilled to be hosting a party, Monday, May 15th on sixth street. We can’t wait to see you there.

As the conference approaches we encourage you to put the dates on your calendar and start booking your flights!

You won’t want to miss our Explore Austin blog. Leading up to the event the team will be making weekly recommendations on places to go, places to eat, and places to get a drink.

See you soon,

Magna Team

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