Life insurance forms the backbone of most middle-class financial plans. Because without this form of protection, the financial futures of many families would lie in ruins if something were to happen to the breadwinner. What is life insurance? Life insurance is one of the oldest forms of insurance protection in the world. In a nutshell, Read more >>
If you own a permanent life insurance policy, then you will have some amount of cash value inside your policy that you can access whenever you want for any reason. But do you know how much cash value you currently have in your policy? How can you find that out? The answer to this question Read more >>
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 >>
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 >>
Saving for retirement is a necessity. but beyond the idea of “putting money away for later,” or just creating a budget worksheet, how much do we really know about the actual costs incurred by American seniors? It’s a misconception that spending decreases after retirement; in fact, a study by the Employee Benefit Research Institute shows Read more >>
The cost of retirement is higher than ever, creating a pressing need for Americans to find ways to prepare financially for retirement as wisely as possible and use their retirement funds well after they stop working. Everyone knows they should prepare for their retirement years so that they can enjoy that season in life rather Read more >>
Planning for your retirement or calculating your retirement score can be a daunting experience. There is so much to think about, especially the amount of money you need in order to retire comfortably. Generally, the rule of thumb is that the money you may need when you ultimately retire should fall somewhere between 70 to Read more >>
Many seniors who are informed about life settlements view the sale of their life insurance policies as an all-or-nothing proposition, but policies don’t actually need to be sold in totality. In some cases, a Retained Death Benefit (RDB) offer might better serve the needs of both retirees and their family. The reasons for entering into Read more >>
Some older Americans find themselves looking for a way to leave a legacy and give back to their community during their retirement years. With enough money in hand for retirement and long-term costs, these seniors find that contributing their money to a charity of choice a fulfilling way to spend their retirement dollars. For retirees Read more >>
A new bill being weighed by the U.S. House of Representatives would make provision for the tax-free rollover of life settlement proceeds into tax-free accounts dedicated to long-term care. The bill, H.R. 7203, was sponsored by Rep. Kenny Marchand (R-TX) and referred to the House Ways and Means Committee on November 30. H.R. 7203, known Read more >>
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