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cash surrender value

Cash Surrender Value: Definition and Explanation

A cash surrender value is the total payout an insurance company will pay to a policy holder or an annuity contract owner for the sale of a life insurance policy. To calculate your Cash surrender value, you must; add total payments made to an insurance policy and subtract of fees charged by the agency. Rather Read more >>

viatical settlement

Viatical Settlement [Overview and Guide]

A viatical settlement is a type of life settlement reserved for those diagnosed with a chronic or terminal illness. A viatical is when a life insurance policy is sold to a third party for a lump sum, and the buyer assumes the premiums and receives the death benefit when the seller dies. In the case Read more >>

senior discounts

Senior Discounts [Saving Money in Retirement: 2020 Guide]

The rising costs of living can make it hard for older people to make ends meet in many cases. Fortunately, many retailers and other organizations recognize this dilemma for those who may no longer be working by offering what are called senior discounts. These are simply discounts that are given to customers who are of Read more >>

Unclaimed Cash in Your Life Insurance Policy

Unclaimed Cash in Your Life Insurance Policy

For seniors facing mounting healthcare bills and other unexpected retirement expenses, sometimes cash is needed very quickly. But short of a winning lottery ticket or a mythical money tree in the backyard, where would those hidden funds come from? The surprising answer: from a life insurance policy. Many seniors will surrender their life insurance policy Read more >>

cash benefit life insurance policy

Cash for Whole Life or Universal Insurance Policy [Guide]

At the time when an individual consults with his family and purchases a life insurance policy, he is often doing the wisest thing possible to protect his loved ones. But the reality is that the necessity of life insurance can diminish over time, especially as the circumstances of the beneficiary change or the premiums become Read more >>

life settlement

Cashing In Your Life Insurance Policy

If your bills are piling up on you and you need to get your hands on some cash immediately, then cashing in your life insurance policy may be an option. This would generally only work with some form of cash value policy, such as a whole life or universal life policy or even a variable Read more >>

In-force illustration - Magna Life Settlements

What Is An Inforce Illustration?

An inforce illustration projects the current costs of your life insurance policy from lapsing. Every year more seniors realize the benefit of exploring a life settlement to get an immediate benefit from an unneeded life insurance policy. As settlements become a more popular option, consumers are realizing that they can investigate and enter into life Read more >>

disability insurance

Disability Insurance

While many consumers consider life insurance to be one of the staples of their personal finances, many of them tend to overlook the risk of becoming unable to work for an extended period of time. This is unfortunate, because statistics show that it is several times more likely that someone will become disabled for a Read more >>

retirement life settlement

5 Ways to Handle Rising Health Care Costs when Planning your Retirement

The cost of long-term care and general healthcare costs are higher than they have ever been, and the increase doesn’t appear to be slowing anytime soon. Medicare covers only a portion of healthcare costs in retirement, leaving you on the hook for what will likely be a significant chunk. You aren’t totally powerless against this Read more >>

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