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beneficiary

Guide to Beneficiaries

A beneficiary is someone listed on a life insurance policy to get the proceeds if the insured individual were to pass away. The proceeds from life insurance typically come as a lump sum payment known as a death benefit. The beneficiary you choose on your life insurance is very, very important. Even if you put 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 >>

Life Settlement Guide

Selling Your Life Insurance Policy

A life settlement is the sale of an inforce life insurance policy for a market value return. Policyholders receive more than the cash surrender value of their policy but less than the death benefit at maturity. The market value depends on the age and health condition of the insured, but often is in the range Read more >>

new york life settlement

Life Settlements in New York

All over New York you have seen TV commercials, newspaper advertisements, and the Internet are abuzz with life settlement promotions. All this publicity and advertising has come about for good reason. Life insurance settlements has grown into a billion-dollar industry. Its popularity stems from the benefits it supplies to seniors and others who no longer 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 >>

retirement calculator

How Selling Your Life Insurance Policy May Help Your Retirement

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 >>

achievement blur charity 1493374 150x150 - Sell Your Insurance Policy and Leave a Legacy

Sell Your Insurance Policy and Leave a Legacy

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 >>

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