Archives

Law written out in Scrabble tiles

Have You Heard About Grigsby V. Russell?

We often cite the US Supreme Court case of Grigsby v. Russell as one of the central tenets of the life settlement industry.  It is invoked whenever anyone questions the seemingly peculiar idea of selling a life insurance policy.  It is the fundamental reason we are able to help people realize the benefit of an Read more >>

modified endowment contract

MEC – What is a Modified Endowment Contract

A modified endowment contract (MEC) is the federal government’s classification for a life insurance contract whose premiums have surpassed legislated limits. MECs can have useful tax implications for estate planning, but they can also present a pitfall for life insurance policyholders who find themselves inadvertently holding one. Thus, it is imperative for anyone paying life Read more >>

How to Pick a Life Settlement Provider

Picking A Life Settlement Provider

In this era of Uber, crowdsourcing and customized television streaming, many seniors are also opting to eliminate the middleman for certain big financial decisions. A relationship with a trusted advisor can be incredibly valuable, but consumers who are considering a life settlement might save money and time by arranging the sale of their insurance policy Read more >>

Magna Life Settlements - Life Settlements

Long Term Care Insurance [LITC] Options and Overview

If you live in the United States today, odds are you will need long term care at some point. The cost of total long term care is rising each year. Long term care insurance (LTCI) is a type of insurance designed to help you pay for long term care needs. Nursing homes, living facility, medical 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 >>

texas life insurance bill transparency

Life Insurance Company Transparency [New Texas Bill]

Newest Texas Bill Passed Requires More Transparency From Life Insurance Companies Life insurance consumers and each Life Insurance Company may be better informed of changes in their premiums if a bill passed unanimously by the Texas House of Representatives this spring becomes law. Texas House Bill 207 sets new disclosure standards for certain types of Read more >>

life settlements

Financial Cleaning Tips for 2020

Millions of Americans, even those who are in their retirement years, have only a poor grasp of their finances. They do not know about the many financial instruments available to them on the open market. Many do not even have a dollar saved for retirement. It takes years to build up good financial habits. However, Read more >>

Gibson Clay webN 150x150 - How A Life Settlement Impacted My Family

How A Life Settlement Impacted My Family

Years before he joined the life settlement industry, Magna’s Senior Vice President Clay Gibson was impacted by his grandfather’s decision to sell his life insurance policy. In a personal essay, Clay shares how his grandfather’s life settlement made an impact on his family. “My grandfather was in his late ‘70s in 2002 and even though Read more >>

iStock 623881984 150x150 - The Impact of Rising COI on the Life Settlement Market

The Impact of Rising COI on the Life Settlement Market

There was a time when the COI (cost of insurance) charge on a universal life insurance policy was virtually assured to stay stable. Those who purchased policies looked at historical trends and concluded that their premiums weren’t likely to go up because of an increase in COI, defined as the amount a policyholder pays to Read more >>

See How Much Your Policy May Be Worth

GET ESTIMATE