As you get older and your situation changes, you may decide that your life insurance policy is no longer necessary. Maybe it’s because your loved
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
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.
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.
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.
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.
Harbor Life Settlements created this list of the top life settlement companies to help you choose the right partner to maximize the sales price of your life insurance.
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.
If someone you love has just received a terminal diagnosis, you are likely in shock and not sure what to do next. One productive place to focus your energy is on learning more about the diagnosis, to prepare for protecting your loved one’s quality of life and ensuring his or her final wishes are honored.
Assuming you have no health insurance, you could easily spend six figures chemotherapy, surgical procedures, prescription medications, and doctors visits. Some sources estimate a cancer treatment plan involving chemotherapy can range from $100,000 to $300,000. Specific to breast cancer, a mastectomy or lumpectomy alone — often required before chemotherapy begins — can cost $15,000 to $50,000. In terms of average cancer treatment costs, AARP estimates that patients spend about $150,000 in total. Where your costs fall relative to that average depends on the type of cancer you have and your treatment needs.
Harbor Life is a life settlement marketing company. Harbor Life will refer qualified policy owners to one or several licensed life settlement brokers or providers. Harbor Life will be compensated for life settlement transactions that originate on www.harborlifesettlements.com. There is no guarantee that every user will receive an offer. The names of the Harbor Life users marketed as example transactions have been changed to protect the privacy of the user.
