Many misconceptions exist about the life insurance industry, as well as life settlements. According to a 2021 study performed by PolicyGenius, just over half of Americans currently hold some form of life insurance. With the majority of the population taking up this investment, it’s important that policyholders understand all of their options as it pertains to the matter. In this blog, we’ll highlight some of the most common myths associated with life insurance and settlements.
Life insurance is purchased with the purpose of providing financial security for your loved ones in the event you are no longer around to provide for them. The primary purpose of a life insurance policy is to furnish a steady stream of income for your family when you pass. This amount of money can also be used to pay off any medical bills from treatments you might have received. There are many times that this stream of money needs to last for a lifetime. Life insurance is an elective that many people are provided an option through their work - similar to health insurance. However, if it is not offered to you there are many organizations you can purchase life insurance through.
Do you have a life insurance policy that you’re about to let lapse? Maybe you’re thinking about surrendering the policy for its cash value. Are you 65 years or older?
The State of Florida, which has the highest percentage of residents over the age of 65 of any state in the U.S., just passed an important piece of legislation that will hopefully encourage other states to increase consumer disclosure requirements to protect seniors who are considering making changes to a life insurance policy.
(BPT) – Retirement is the time in your life when you can throw off the shackles of your daily responsibilities and truly enjoy the fruits of everything you spent years working toward. It’s an empowering feeling and you’ve earned it. You’ve planned and you’ve saved, but now that you’re here, don’t make the mistake of believing your financial planning is over.
If you're struggling to make ends meet in retirement, you're not alone. And when your income is limited and fixed, you do your best to cut out unnecessary expenses.
The Employee Benefit Research Institute’s (EBRI) 2016 Retirement Confidence Survey found that the confidence American workers have in their ability to afford a comfortable retirement is remaining stable, with nearly two out of three workers reporting they are very or somewhat confident of having enough money for a comfortable post-career life.
If you’re a member of the “sandwich generation” – adults who are caring for both their own young children and their elderly parents – then you’re no doubt familiar with the challenges and conflicts that arise on a monthly,