Recent Posts:
Guide to Life Insurance for Cancer Patients
Read on to find out if life insurance covers cancer, whether you can get life insurance while being treated for cancer, what your insurance prospects look like once you’re in remission, and what to do if you can’t afford your life insurance.
4 Ways to Cancel a Life Insurance Policy
What happens when you cancel life insurance? Unfortunately, that’s not a simple question to answer. Your coverage might end immediately, or it might not. Plus, you may or may not receive a refund of the premiums you’ve paid. These details hinge on the type of policy you have and how long you’ve had it.
Is Your Old Life Insurance Policy Worth Anything?
Life insurance is a financial parachute of sorts. But it can take years to prep that parachute to deliver a soft landing, for beneficiaries or for the policyholder later in life. On permanent and term life policies, the policyholder could pay premiums for decades before the family or insured sees any return from that investment.
U.S. Life Settlement Index: The Best and Worst States for Life Settlements
Whether you’re the buyer or the seller, a life settlement can reshape your finances in short order. Unfortunately, not all investors and policyholders have access to the same level of life settlement opportunity. That’s because the secondary markets for life insurance vary in size and activity level from state to state. In our latest study, the Harbor Life Settlements U.S. Life Settlement Index, we set out to quantify those differences and identify the states that are most and least accommodating to high-value life settlements.Â
Everything You Need to Know About Reverse Life Insurance
Find out what reverse life insurance really is, what the benefits are, how it differs from a life settlement, and the various reverse insurance options you have.
Viatical Loans Overview: Definition, Pros/Cons, Alternatives
A viatical loan is a strategy to pull cash from your life insurance policy after you’ve been diagnosed with a terminal illness. It’s similar to a viatical settlement in three respects. One, viatical loans and viatical settlements are structured around an in-force life insurance policy. Two, you qualify for both a viatical loan and viatical settlement when a qualified medical professional certifies that your lifespan is 24 months or less. And lastly, you can use the proceeds from a viatical loan or viatical settlement to cover your medical expenses and end-of-life care.
What to Do Before and After a Lapsation in Life Insurance
This guide to life insurance lapsations covers what you need to know about grace periods, reinstatement options, and how to maximize your policy’s value even as you’re facing lapsation. Read on to learn what steps you can take to protect your life insurance investment, before and after a policy lapse.
Fiduciaries: Don’t Ignore the Secondary Market for Life Insurance
Read on for an explanation of the secondary market for life insurance, how it differs from the primary market, and the benefits eligible policyholders can expect to receive from the sale of their life insurance.
What is Cash Surrender Value of Life Insurance?
The cash surrender value of your life insurance policy is the amount of cash you may withdraw if you surrender your policy to the insurance company. By doing this, you forfeit the right to the death benefit and will no longer have to pay your premiums. This is an alternative to borrowing against your policy, which would keep it in effect and require you to still pay premiums and pay interest on what you borrowed.