What is a Life Insurance Buyout and How Does It Work?
March 5, 2024
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If you have a life insurance policy you no longer want or need, a life insurance buyout may be a viable option to get money
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Category: Viatical Settlements
Viatical Loans Overview: Definition, Pros/Cons, Alternatives
March 4, 2021
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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 is Cash Surrender Value of Life Insurance?
January 14, 2021
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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.
How Does Fiduciary Duty Apply in Life Settlements?
January 4, 2021
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Whether you’re a policyholder, an agent, or an advisor, it’s important to understand the concept of fiduciary duty and how it applies to life settlements. We’ve developed this in-depth guide to help. Read on to learn about fiduciary standards, what constitutes a breach of fiduciary duty, and the complexities of fiduciary duty as they relate to life settlements.
Life Settlement Regulations by State
December 16, 2020
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If you’re interested in selling your life insurance, it’s important to understand the nuances of the laws and regulations in your state. Some states regulate only viatical settlements, for example, while other states govern both life and viatical settlements. What follows is an overview of life settlement laws and regulations by state, including key regulatory concepts such as mandatory disclosure and waiting periods.
Complete Guide to Viatical Settlement Investments
November 2, 2020
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Read on for a deeper explanation of viatical settlements, what types of policies qualify, how viatical settlements differ from life settlements, how to invest in a viatical settlement, and the pros and cons of viatical settlements as investments.
What happens if you don’t pay medical bills?
September 16, 2020
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In 2019, a research study published in the Journal of General Internal Medicine concluded that 137.1 million Americans had experienced a “medical financial hardship” in the previous year. That’s a jaw-dropping number, and one to remember if you’re currently struggling to manage unpaid medical bills — this is not a challenge you face alone. Many others have or are experiencing the stress of high hospital debt, as well as the consequences of not dealing with that debt.
Viatical Settlements vs Life Settlements: Definitions and Differences
January 22, 2020
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Are you considering selling your life insurance policy, but not quite sure how a viatical settlement differs from a life settlement? The two are often mistakenly used interchangeably, but there are several key differences you should be aware of when trying to determine your eligibility, and what option is best suited for your unique needs.