Life Insurance

March 30, 2021

Can You Have More Than One Life Insurance Policy? Life Insurance

Yes, you can have more than one life insurance policy. There are no legal restrictions on the number of life insurance policies you can hold, though there could be financial limitations. That's not to say it's a bad idea to have multiple life insurance policies -- two or more layers of coverage may ...

March 25, 2021

How to Cancel a Life Insurance Policy the Smart Way Life Insurance

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 ...

March 25, 2021

How to Find Out if an Old Life Insurance Policy is Worth Anything Life Insurance

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 an...

March 11, 2021

6 Things Life Insurance Agents Should Discuss During Renewal Life Insurance

You can step into that advisory role with a structured and proactive conversation with your clients when they are renewing their life insurance policy. Here are six questions to ask during life insurance renewal to move your clients into the type and level of life insurance that will help them reach...

March 11, 2021

Everything You Need to Know About Reverse Life Insurance 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....

March 3, 2021

What to Do Before and After a Lapsation in Life Insurance 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 laps...

February 9, 2021

How to Get the Most Returns from ILITs with Life Settlements Life Insurance , Life Settlements

An irrevocable life trust or ILIT is an entity created to hold a life insurance policy. Its primary purpose is to minimize estate taxes by transferring ownership of the life insurance policy away from the insured. Putting the policy in an irrevocable trust generally precludes the value of the death ...

February 9, 2021

Fiduciaries: Don’t Ignore the Secondary Market for Life Insurance Life Insurance , Life Settlements

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. ...

January 14, 2021

What is Cash Surrender Value of Life Insurance? Life Insurance , Life Settlements , Viatical Settlements

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 you...

December 16, 2020

Life Insurance and Life Settlement Statistics for 2021 Life Insurance , Life Settlements

Read on for the most important life settlement and life insurance facts and statistics for 2021 -- including how many people have life insurance, the average face value of life insurance policies, how life settlement proceeds compare to cash surrender values, and how quickly the life settlement indu...