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viatical settlement

Viatical Settlements: Understanding Viaticals in 2021

A viatical settlement is a type of life settlement reserved for those diagnosed with a chronic or terminal illness. A viatical occurs if someone who bought a policy from a life insurance company, and sells it after falling chronically ill. The cash payout from a Viatical is tax free when used to cover certain health Read more >>

How are Life Settlements Taxed - Life Settlement Taxes

Life Settlement Taxes in 2021

Life Settlement proceeds are treated as ordinary income. Whatever the net proceeds from the transaction is valued will be taxed as ordinary income. The amount paid into the premiums will be treated as capital gains. The remaining net proceeds after taxes from surrendering the policy after should be compared to after-tax proceeds received by surrendering Read more >>

life insurance

What Are The Different Types Of Life Insurance?

If you will have debts to pay off or loved ones to care for if something happens to you, then you probably need to carry some form of life insurance. Life insurance is a legal contract between the policy owner, the insured (who is also often the policy owner), the insurance carrier and the beneficiary. Read more >>

Who Qualifies for a Life Settlement? - Magna Life Settlements

Who Qualifies for a Life Settlement?

As the life settlement market increases in visibility, more and more seniors are learning that a settlement can be a profitable way to get a cash benefit from a life insurance policy. The key to making a decision concerning life insurance options, however, is understanding who is eligible for a life settlement and who is Read more >>

3 Reasons Agents Should Inform Clients About Life Settlements

3 Reasons Agents Should Inform Clients About Life Settlements

What agents don’t know can hurt the financial future of life insurance policy owners. About half of all agents are uninformed about the benefits of life settlements, which is the sale of a life insurance policy for cash to an investor. Because of this disconnect seniors are missing valuable financial opportunities. Take the case of Read more >>

Rhode Island Life Settlement - Magna Life Settlements

Rhode Island: One Step Closer to Requiring Life Settlement Disclosure

Knowledge is power for seniors focused on the optimal management of their finances, and a recent movement of state disclosure laws will increase consumer understanding of their life settlement options. Studies show that consumers who sell their life insurance policies receive four to seven times more money than they would receive from surrendering policies, yet Read more >>

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